Azerbaijan, Baku, Feb. 16 / Trend , N.Ismayilova/
The Azerbaijani State Property Management State Committee announced a tender to sell the stock of Gence Menzil Tikinti, the committee said in a message on Feb. 16.
A 99.96-percent share has been put on sale. A total of 85 percent are tender standard packet stocks and 14.96 percent are stocks remaining after a discount sale to the workforce.
The competition is open to Azerbaijani individuals and legal entities and foreign investors.
Applicants must submit an investment program with proposals to purchase new equipment and open new jobs.
Applicants must also submit a bank guarantee for 5 percent of the value of the investment proposal, as well as offers to transfer 850,000 manat to the state budget and write off at least 40,000 privatization receipts. Foreign investors must submit privatization options.
Gence Menzil Tikinti is engaged in manufacturing ferroconcrete products, building and assembling. The company is located at 1 V. Khuluflu St. in Ganja.
The authorized capital of the enterprise is 2.697 billion manat with 1,348,546 shares. The face value of each share is two manat.
The company's debt hit 211,290 manat, including debts for wages at 1,448 manat. Debt receivables hit 248,900 manat.
The enterprise employs 7 people and was commissioned in 1979.
Applicants may learn more about the tender at 20 Y. Safarov St. in Baku, at 10:00-17:30 until March 13, 2009. Documents and proposals must be submitted at 10:00-17:30 until March 13.
The proposals will be considered by a tender commission at the State Committee for State Property Management from 10:30 on March 17.
On Feb. 16, the official exchange rate is 0.8062 manat to $1.