Communication enterprise put up for investment contest in Azerbaijan
Baku, Azerbaijan, Oct. 27
By Maksim Tsurkov - Trend:
The Azerbaijani State Committee for Property Affairs has announced an investment contest for the sale of 97.38 percent of Bakı Teleqrafı's shares (Baku Telegraph), Mulkiyyet newspaper published by the committee said Oct. 27.
The contest is open to physical and legal entities of Azerbaijan, as well as foreign investors, the statement said.
The bidders must submit an investment program with proposals to restore the activity of the enterprise, a bank guarantee for five percent of the value of the investment proposal and proposals for transferring 530,000 AZN to the state budget. A bidder must submit a letter of guarantee from any bank in the amount of 180,000 AZN to confirm the seriousness of intentions.
The investment program must contain the proposals for communication services that meet international standards, the use of modern technologies, creation of new jobs and the social welfare of employees.
As of October 1, 2014, the authorized capital of the company is 821,650 AZN. Some 410,800 shares with par value of 2 AZN each have been issued.
Around 400,050 shares of the company worth 800,100 AZN were put up for the investment contest.
The company does not have accounts payable. Accounts receivable is 212,890 AZN.
Around 13 people work at this enterprise. The company's activity includes communication services, telegraph and telex.
Those wishing to participate in the contest may obtain further information and read the privatization plan daily from 10:00 a.m. to 5:30 p.m. (local time) until December 2, 2014 at the address: 50, Y.Safarov, Baku.
The documents are received from 10:00 a.m. to 5:30 p.m. (local time) until December 2, 2014.
The bids will be considered in the state committee's building by the contest commission from 11:00 a.m. (local time) on December 3.
The official exchange rate is 0.7843 AZN/USD Oct. 27.
edited by CN