Azerbaijan, Baku, 26 January / Trend corr. I.Khalilova / The Azerbaijani State Committee on State Property Management announced an auction on sale of 85% of state shares of Kapital Bank to juridical persons.
The decision on the complete privatization of Kapital Bank was made by the order of Azerbaijani President from 19 October 2007. In 2007, 50% of state share of the bank became a private property. AtaHolding with 20% of shares, Xalq Bank -20% and Azersun Holding -10% became the new shareholders of the bank.
The assessment of the proposals of the auction participants will be held on 3 April. The applicants may submit their documents to 29 February. The fee for participation in the auction is AZN 6,000. The participants permitted to participate in the auction should pay the advance payment of 10%.
About 1,020mln of assets by the total state share of AZN 1.2mln will be exhibited in the auction. The nominal cost of the assets comprises AZN 10. The stocks are formed in 17 packages. The cost of each package totals to AZN 600,000.
However, the juridical person has no right to submit an application which exceeds 360,000 of assets. The sale of assets to juridical persons will be implemented by following the demands of the bill on Banks. The political parties, public associations, funds and con-commerce organizations, natural persons and juridical persons who has direct and indirect state share or foreign countries in its capital.
As for 1 January 2008, Kapital Bank's assets totaled to AZN 249,466. The bank liabilities amount to AZN 209,555. The number of the bank workers reaches 2,458.