Azerbaijan repeatedly announces investment competition to privatize enterprise
Azerbaijan, Baku, May 13 /Trend I.Khalilova/
The Azerbaijani State Property Committee has repeatedly announced an investment competition to sell 99.1 percent of the shares in Mugan Su Tikinti, the State Property Committee said in the Mulkiyyet official publication.
The competition is open to Azerbaijani physical and legal entities and foreign investors. Applicants must submit an investment program with proposals to restore the enterprise's activity.
Applicants must also submit a bank guarantee for five percent of the value of the investment proposal and the proposals to transfer 200,000 manat to the state budget. The applicant must provide a letter of guarantee of any bank to 70,000 manat to ensure the seriousness of intentions.
Mugan Su Tikinti specializes in construction work. It is located in Sabirabad region.
The authorized capital is 674.434 manat as of Feb. 1. About 337,217 shares at par value of 2 manat each were issued. The subject of the contest are 334,166 shares with the total nominal value of 668.332 manat.
The company has debts amounting to 799,639 manat, including the arrears on wages worth 22,367 manat. Debts for raw materials, work and services amounted to 22,372 manat. The enterprise's bill receivable is 804,611 manat.
Applicants can familiarize with the requirements of competition, privatization plan and get more information from 10:00 to 17:00 till June 13, 2012 at the address: Baku, Safarov st, 20. Documents and proposals are accepted from 10:00 to 17:00 till June 13.
Proposals will be considered in the building of the State Committee from 15:00 on June 15.
Official exchange rate on May 13 0.7859 AZN/USD