Construction company put up for investment competition in Azerbaijan

Business Materials 7 July 2014 13:48 (UTC +04:00)

Baku, Azerbaijan, July 7
By Emin Aliyev - Trend:

The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 99.96 percent of shares in "Gəncə Mənzil Tikinti" JSC, the "Mulkiyyet" newspaper published by the comittee said.

The individuals and legal entities of Azerbaijan, as well as foreign investors can participate in the competition.

Those wishing to take part in the competition should submit an investment program, including proposals to improve the production, bank guarantee for five percent of the value of the investment proposals as well as proposals for inclusion of 550, 000 AZN in the state budget.

The bidder should submit a letter of guarantee from any bank in the amount of 185,000 AZN to confirm the seriousness of intention.

The staff consists of 20 people.

"Gəncə Mənzil Tikinti" engaged in the production of reinforced concrete structures and construction and installation works. The authorized capital amounts to 2.7 million AZN, and some 1,348,546 non-documentary registered shares with a par value of 2 AZN each were issued.

The competition subject is 1,348,054 shares with total nominal value of 2,696,108 AZN.
The liabilities of the enterprise for April 1, 2014 makes up 519.670 AZN, including arrears of wages and other similar debts - 8,040 AZN, for goods, works and services - 453.32 AZN. The account receivables make up 248.950 AZN.

Those wishing to participate in the competition may obtain further information and inspect the privatization plan from 10:00 to 17:30 every day until August 5, 2014 at the address: street, Baku Y.Safarov Str. 50.
The statements and proposals are accepted from 10:00 to 17:30 until August 5, 2014.
The evaluation of the proposals will be held by the competition commission in the building of of the State Committee from 15:00 local time on August 6.

The official exchange rate on July 7 is 0.7844 AZN / USD.

Edited by CN