Azerbaijan, Baku, August 6 / Trend A. Akhundov /
The Azerbaijani State Property Committee has announced an investment contest for the sale of a 93.95 per cent stake of the Baki Caycekici Company, the Mulkiyyet newspaper published by the committee reported today.
The bidding is open to Azerbaijani individual and legal entities and foreign investors.
Applicants must submit an investment programme, a bank guarantee of five per cent of the value of the investment proposals and plans to transfer 150,000 manat to the state budget.
Each applicant must provide a letter of guarantee from any bank to the amount of 50,000 manat to ensure serious intention.
The investment programme must contain proposals of establishing high quality tea production and packaging, restoring the existing and purchasing of new equipment, expanding the product range and restoring jobs.
As of June 1, 2013, the authorised capital was 171,740 manat. Around 85,870 shares with a total nominal value of two manat each have been issued. The subject of the contest is 80,680 shares with a total nominal value of 161,360 manat.
The accounts payable amounted to169, 200 manat as of June 1. The bills receivable hit 28,710 manat. Some 14 people work there.
Applicants can review the requirements of the contest, privatisation plans and obtain more information between 10:00 until 17.30 till September 4, 2013 at the following address: 20, Y. Safarov st., Baku. Documents and proposals are accepted from 10:00 to 17:30 till September 4, 2013.
Proposals will be reviewed by the contest commission the State Committee building until September 6.
The official exchange rate is 0, 7844 AZN/USD on August 6.