The Azerbaijani State Committee on Property has announced an investment contest for sale of 98,71 percent of Baki Elektriktokme, the State Committee said.
About 85 percent of the company’s package of shares put for sale falls to a standard package of investment competition, while 13.71 percent remained after the preferential sale of shares to the labor collective.
The competition is open to physical and legal entities of Azerbaijan and foreign investors.
Applicants must submit an investment program with proposals for introduction of new technologies, expanding the range of products, restoring jobs.
Applicants must also submit a bank guarantee for 5 percent of the value of the investment proposal, as well as offers to transfer 900,000 manat to the state budget.
Baki Elektriktokme specializes in casting iron and aluminum, as well as making industrial and household products. The company is located in Baku, 5, N. Nasrullayev st.
The authorized capital of the enterprise is 2,125 million manat with 1.062.390 shares. The face value of each share is two manat. A total of 1.048.709 shares with a total face value of 2,097 million manat have been put on tender.
The company's debts hit 2.23 million manat as of Feb.1, 2010, including debts to pay wages 97,235 manat, and debts to pay for the purchase of raw materials and rendered services at 226,470 manat. The enterprise’s accounts receivable hit 1,232 million manat. Number of workers of the enterprise is 166 people.
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