Azerbaijan, Baku, Sept. 17/ Trend A.Hasanov /
The Azerbaijani State Property Committee has announced an investment contest for the sale of 93.96 percent stake of Bakı Caycekici (tea weighing factory), the Mulkiyyet newspaper published by the Committee reports today.
The stake, put up for the contest consists of a standard package of the investment contest (85 percent) and shares remaining from the preferential sale to the collective (8.96 percent).
The contest is open to physical and legal entities of Azerbaijan and foreign investors.
Those wishing to participate in the contest must submit an investment program that includes proposals to restore the enterprise's activity.
Applicants must also submit a bank guarantee of five percent of the value of the investment proposals and proposals to transfer 150,000 manat to the state budget.
Applicant must provide a letter of guarantee of any bank in the amount of 50,000 manat to ensure the seriousness of intentions.
The authorized capital is 171,740 manat as of Sept. 1, to which amount 85,870 shares with total nominal value of 2 manat each have been issued. The subject of contest is 80,680 shares with total nominal value of 161,360 manat.
The enterprise has debts amounting to 123,850 manat. Debts for work and services amounted to 111,850 manat, arrears of wages - - 12,000 manat. Accounts receivable are 1,864 manat.
The company has been operating since 1966. It is engaged in tea processing. Around 11 people are employed there.
Applicants can review the requirements of the contest, privatization plans and get more information from 10:00 to 17:30 till Oct. 15, 2012 at the address: Baku, st. Y. Safarov, 20. Documents and proposals are accepted from 10:00 to 17:30 till Oct. 15.
Proposals will be reviewed by contest commission in the building of the State Committee Oct. 17, 2012 from 11:00.
On Sept.17, the official exchange rate is 0.7853 manat to $1.