Azerbaijan, Baku, Oct. 30 / Trend J. Nasibova /
The Azerbaijani State Property Committee has announced an investment contest for the sale of 94.46 per cent stake of the Bakı Yod Company's shares, the Mulkiyyet newspaper published by the committee reports today.
The stake put up for the contest consists of a standard package of the investment contest (85 per cent) and shares remaining from the preferential sale to the collective (9.46 per cent).
The contest is open to private and commercial bodies of Azerbaijan and foreign investors.
Those wishing to participate in the contest must submit an investment programme that includes proposals to restore the enterprise's activity.
Applicants must also submit a bank guarantee of five per cent of the value of the investment proposals and plans to transfer 100,000 manat to the state budget.
Each applicant must provide a letter of guarantee of any bank to the amount of 30,000 manat to ensure serious intention.
The authorised capital is 202,968 manat as of Oct. 1, to which 101,484 shares with a total nominal value of two manat each have been issued. The subject of the contest is 95,859 shares with a total nominal value of 191,718 manat.
The enterprise has debts amounting to 206,195 manat. Debts for work, raw materials and services amounted to 123,657 manat, arrears of wages stand at 82,538 manat. Accounts receivable are 164,455 manat.
The company has been operating since 1930. It is engaged in iodine production employing two people.
Applicants can review the requirements of the contest, privatisation plans and get more information between10am until17.30pm up till Dec.3, 2012 at the address: Baku, st. Y. Safarov, 20. Documents and proposals are accepted from 10:00 to 17:30 till Dec. 3.
Proposals will be reviewed by the contest commission at the building of the State Committee on Dec. 5, 2012 from 11:00.
On Oct. 30, the official exchange rate is 0.785 manat to $1.
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