Tobacco factory put up for investment tender in Azerbaijan

Business Materials 19 November 2013 16:57 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Emin Aliyev - Trend:

The Azerbaijani State Property Committee has announced an investment tender for the sale of 30 per cent of shares in the Zaqatala-Tutun company, a report published in Mulkiyyat newspaper said on Monday.

The tender is open to Azerbaijani physical and legal entities, as well as foreign investors, the report said.

Those willing to participate in the tender must submit an investment programme, bank guarantee for five per cent of the value of the investment proposals as well as proposals for transferring 35,000 manat to the state budget. The applicant must submit a letter of guarantee of any bank to the amount of 12,000 manat to confirm its serious intention.

The investment programme must contain proposals for using new technology, improving the quality of production, expanding the production range and restoring jobs.

As of Sept. 1, 2013, the authorised capital of the tobacco factory is 0.94 million manat, of which 470,070 shares at a par value of two manat for each share were issued. The tender subject is 141,029 shares with a total nominal value of 0.282 million manat.

As of Sept. 1, the account payable is 36,570 manat, while accounts receivable - 0.312 manat. The number of employees is two.

Those wishing to take part in the tender may obtain further information and familiarise themselves with the privatisation plan from 10:00 to 17:00 daily until December 16, 2013 at the address: 20, Y.Safarov str., Baku.

Documents and proposals are being accepted from 10:00 to 17:00 until December 16, 2013.
The tender commission will evaluate the proposals at the State Committee from 15:00, December 18, 2013.

The official exchange rate is 0.7844 AZN/USD on Nov. 19.