Azerbaijan privatizes iodine-bromine plant

Business Materials 24 September 2011 14:54

Azerbaijan, Baku, Sept. 24 / Trend , I.Khalilova /

The Azerbaijani State Property Issues Committee announced an investment competition to sell shares of the Baku iodine-bromine plant (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.

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 a bank guarantee for 30,000 manat.

Applicants must submit an investment program with proposals to purchase new up-to-date equipment, improve product quality, increase the range of goods, open jobs, etc.
Applicants may learn more about the conditions from 10 am to 5.30 pm up to Oct.24 at the address: Baku city. Y. Safarov, 20.

Documents and proposals are accepted from 10 am to 5.30 pm Oct.24. Proposals will be evaluated at 11 am Oct.26, 2011.

The authorized capital of the enterprise is 202,968 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 199,073 manat, including debts for wages at 75.416 manat and goods and services at 123,657 manat. Debt receivables hit 164,455 million manat. The enterprise was commissioned in 1930.

The official exchange rate is 0.7868 manat to $1 on Sept. 24.