Azerbaijan, Baku, Dec. 20 / corr. Trend N. Ismaylova / The Azerbaijani State Property Management Committee announced an investment competition for sale of 29.96% shares of Agjabedi-Pambiq joint stock company, State Committee said on Dec. 20.
Azerbaijani natural and legal people as well as foreign investors can take part in the competition.
The contenders must submit an investment program offering to improve cultivation of raw cotton and extend volumes of its sale.
To participate in the competition contenders should deliver bank guarantee for 5% of investment proposals and offers to deposit AZN 165,000 in state budget.
Agjabedi-Pambiq deals with cultivation and sale of raw cotton. The joint stock company is situated in 79.99h territory of Agjabedi town (western part of the country) at the following address: M. Rasulzade st, 252.
Authorized capital of joint stock company makes up AZN 1.98mln. For this amount 992,159 shares were released with nominal value of AZN 2 each. The topic of the competition is 297,213 shares with total nominal value of AZN 594,430.
As of Nov. 1, 2008 the enterprise has debts in the amount of AZN 2.68mln including debts on wage in the amount of AZN 37,270. Accounts receivable of the enterprise make up AZN 174,820. Debts on payment for raw materials and rendered services make up AZN 2.65mln.
The enterprise operates since 1953. Staff consists of 47employees.
The candidates can get familiarization with requirements of competition, privatization of plan and get additional information from 10:00 a.m. to 17:30 p.m. by Jan. 21, 2009 at the following address: Baku, Y. Safarov St, 20. Documents and bids are taken from 10:00 a.m. to 17:30 p.m. by Jan. 21.
Competition commission will consider proposals on Dec. 23, 2009 from 10:30a.m. in State Property Management Committee.
Official rate for Dec. 20 makes up AZN 0.8013 per USD 1.
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