Azerbaijan, Baku, July 31 / Trend N. Ismayilova /
The Azerbaijani State Committee on Property has announced an investment competition for sale of Lenkeran-Chay-5 JSC's shares, the State Committee said.
A package of shares worth 30 percent was put for sale.
Azerbaijani physical, legal entities and foreign investors can participate in the contest.
Applicants must provide an investment program with the proposals to expand tea technology.
Concerned people must submit a bank guarantee for five percent of the value of the investment proposals and proposals to transfer 45,000 manat to the state budget.
Lenkeran-Chay-5 specializes on processing of tea and its sale located in Lankaran region.
The authorized capital of JSC is 829,500 million manat. About 414,741 shares with nominal value of two manat each were issued. The subject of the competition are 124 422 shares with the total nominal value of 248,844 million manat.
The company has debts amounting to 26,600 manat, including debts on wages worth 1.670 manat. Accounts receivable are 19.670 manat. The company has been operating since 1988.
Applicants can familiarize the requirements of competition, privatization plans and get more information from 10:00 to 18:00 until August 30, 2010 at the address: 20 Y. Safarov st., Baku. Documents and proposals are accepted from 10:00 to 17:30 until August 30.
Proposals will be reviewed by the commission in the building of the State Committee on State Property from 15:00 September 1, 2010.
On July 31, the official exchange rate is 0.8036 manat to $1.