Azerbaijan, Baku, Feb. 23 / Trend , N.Ismayilova/
The Azerbaijani State Property Management State Committee announced a tender to sell the stocks of Baki Elektriktokme, the committee said in a message on Feb. 23.
A 98.71-percent share has been put on the market. A total of 85 percent are tender-standard packet stocks and 13.71 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 25,000 privatization receipts. Foreign investors must submit privatization options.
Baki Elektriktokme is engaged in casing iron and aluminum, building industrial and home appliances. The company is located at 5 N. Nasrullayev St. in Baku.
The authorized capital of the enterprise is 2.125 million manat with 1,062,390 shares. The face value of each share is two manat. A total of 1,048,709 shares with a total face value of 2.097 million manat have been put on the tender.
The company's debt hit 1.077 million manat, including debt for wages at 41,190 manat and services and raw materials - 141,830 manat. Debt receivables hit 848,010 manat.
The enterprise employs 165 people and was commissioned in 1961.
Applicants may learn more about the tender at 20 Y. Safarov St. in Baku, at 10:00-17:30 until March 27. Documents and proposals must be submitted at 10:00-17:30 on March 27.
The proposals will be considered by a tender commission at the State Committee for State Property Management from 10:30 on March 31.
On Feb. 23, the official exchange rate is 0.8052 manat to $1.
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