Azerbaijan, Baku, Aug.28 / Trend, N.Ismayilova /
The Azerbaijani State Property Committee announced an investment competition to sell shares of manufacturer of technical iodine and potassium iodine JSC Baki Yod, the committee said.
A 94.46 -percent share was put on sale. A total of 85 percent are tender standard packet stocks and 9.46 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, improve product quality, increase the range of goods, 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 100,000 manat to the state budget and write off at least 25,000 privatization receipts. Foreign investors must submit privatization options.
Baki Yod, specialized in the production of technical iodine and potassium iodine, is located in the Sabunchi district of Baku.
The authorized capital of the enterprise is 202,968 million manat with 101,484 shares. The face value of each share is two manat. A total of 95.859 shares with a total face value of 191,718 million manat have been put on tender.
The company's debts hit 198,541 manat, including debts for wages at 74.884 manat and goods and services at 123,657 manat. Debt receivables hit 164,455 million manat. The enterprise was commissioned in 1930.
Applicants may learn more about the conditions at 20 Y. Safarov St. in Baku, at 10:00-17:30 until Sept.27, 2010. Documents and proposals must be submitted at 10:00-17:30 until Sept.27, 2010.
The proposals will be considered by the Committee's contest commission from 11:30 Sept.29, 2010.
The official exchange rate is 0.8037 manat to $1 Aug. 28.