Baku, Azerbaijan, Aug. 25
By Zulfiyya Gurbanova - Trend:
The Azerbaijani State Committee for Property Affairs has announced two investment contests for the sale of 30.11 percent of Neftcala-Pambiq enterprise's shares and 29.45 percent of Qarabag-Pambiq enterprise's shares, Mulkiyyet newspaper published by the committee said Aug. 25.
The contest is open to physical and legal entities of Azerbaijan, as well as foreign investors, the report stressed.
Those wishing to take part in the contest of the sale of Neftcala-Pambiq's shares should submit an investment program, a 5 percent bank guarantee of the investment proposal value and the proposals for transferring 286,000 manats to the state budget; for the sale of Qarabag- Pambiq - an investment program, a 5 percent bank guarantee of the investment proposal value and the proposals for transferring 245,000 manats to the state budget.
The applicant should submit a letter of guarantee from any bank in the amount of 90,000 AZN for Neftcala-Pambiq, while 80,000 AZN for Qarabag- Pambiq to confirm seriousness of intention.
Each of these enterprises has four employees.
Neftcala-Pambiq is engaged in receiving, processing and sale of cotton.
The authorized capital of the company is 3.53 million AZN. Some 1,763,915 non-documentary registered shares with par value of 2 AZN each have been issued for that amount.
The subject of the contest is 531,161 shares with a total nominal value of 1,062,322 AZN.
As of August 1, 2014, the liabilities of the company hit 1.28 million AZN, including debts worth 719 AZN.
Qarabag-Pambiq is also engaged in receiving, processing and sale of cotton.
The authorized capital of the company is 3.08 million AZN. Some 1,541,349 non-documentary registered shares with par value of 2 AZN each have been issued for that amount.
The subject of the contest is 453,872 shares with a total nominal value of 907,744 AZN.
Those wishing to participate in the contest may obtain further information and get familiarized with the privatization plan daily from 10:00 to 17:30 local time until September 22, 2014 at the address: 50 Y.Safarov, Baku.
The applications and offers are accepted from 10:00 to 17:30 until September 22, 2014.
The bids for Neftcala-Pambiq will be assessed in the state committee's building by the contest commission from 12:00 local time on September 24, while the assessment for Qarabag-Pambiq will take place at 15:00 on September 24.
The official exchange rate is 0.7844 AZN/USD as of Aug. 25.
