Azerbaijan, Baku, Feb. 16 / Trend , N.Ismayilova/
The Azerbaijani State Property Management Committee announced a tender to sell stocks of the Mingachevir Toxucu company, the committee said in a message on Feb. 16.
A 99.31-percent share was put on sale. A total of 85 percent are tender standard packet stocks and 14.31 percent are stocks remaining after 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 up-to-date equipment and open jobs. Applicants must also submit a bank guarantee for 5 percent of the value of the investment proposal, as well as offers to transfer 700,000 manat to the state budget and write off at least 25,000 privatization receipts. Foreign investors must submit privatization options.
Mingachevir Toxucu produces cotton fiber and fabrics.
The company is located at 69 M. Rasulzade Ave. in Mingachevir.
The authorized capital of the enterprise is 1.376 million manat with 687,784 shares. The face value of each share is two manat. A total of 683,010 shares with a total face value of 1.366 million manat have been put on tender.
The company's debt hit 859,700 manat, including debt for wages at 179,800 manat and goods and services at 350,400 manat. Debt receivables hit 3.01 manat.
The enterprise employs 800 people and was commissioned in 1960.
Applicants may learn more about the tender at 20 Y. Safarov St. in Baku, at 10:00-17:30 until March 16, 2009. Documents and proposals must be submitted at 10:00-17:30 until March 16.
The proposals will be considered by a tender commission at the State Committee for State Property Management from 10:30 on March 19.