Azerbaijan, Baku, Dec. 20/ Trend N. Ismayilova/ Azerbaijan State Committee for State Property Management announced an investment competition to sell 30.09% of stocks of the Bilasuvar-Pambiq JSC, the Committee said on Dec. 20.
Individuals and legal entities of Azerbaijan and foreign investors may take part in the competition
Applicants must submit an investment program with proposals on improvement of cotton processing and enhancement of cotton sale.
Those willing to take part in the competition have to submit a bank guarantee for 5% of the cost of the investment competitions and the proposals on transfer of AZN 200,000 to the public budget.
Bilasuvar-Pambiq, covering 42.11 hectares in the Bilasuvar region, is engaged in storage, processing and sale of cotton.
Authorized capital of the joint stock company has amounted to AZN 2.48mln. A total of 12,387,62mln stocks, with face value of AZN 2 each, were issued to this sum. The subject of the competition is 372,757stocks with total face value of AZN 745.51.
Authorized capital of joint stock company makes up AZN 2.48mln. For this amount 1,238,762mln shares were released with nominal value of AZN 2 each. The topic of the competition is 372,757 shares with total nominal value of AZN 745,510.
As of Nov.1, enterprise's arrears comprised AZN 6.13mln. Its debit liabilities totalled AZN 1.1MLN. Debts on payment for raw materials and rendered services make up AZN 6.1mln.
Bilasuvar-Pambiq employing 47 people was founded in 1983
Applicants may get familiar with requirements of the competition, privatization plan and may get more information at 20, Y.Safarov, Baku from 10:00 to 17:30 until Jan. 27, 2009. Documents and proposals must be submitted by Jan. 27 from 10:00 to 17:30.
Proposals will be viewed by a competition commission at the State Committee for State Property Management from 10:30 on Jan. 29, 2009.
Competitive commission will consider proposals on Dec. 29, 2009 from 10:30a.m. in State Property Management Committee.
On Dec. 20, the official currency rate is AZN 0.8013 AZN/USD.
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