Azerbaijan announces investment competition on sale of shares of tea processing enterprise

Azerbaijani State Property Committee announced an investment competition to sell 93.96% shares of raw tea processing enterprise - Baki Caychekici, the committee said.

Some 85% of the company's package of shares put for sale falls to a standard package of investment competition, while 8.96% remained after the preferential sale of shares to the labor collective.

The competition is open to Azerbaijani physical and legal entities and foreign investors.

Applicants must submit an investment program with proposals for reconstruction of existing equipment or purchase new ones, expanding product range, increasing the number of jobs.

Applicants must also submit a bank guarantee for 5% of the value of the investment proposal, as well as offers to transfer 150,000 manat to the state budget.

Baki Caychekici enterprise is specialized in processing raw tea and is located on the Str. Safaraliyev, 24 in the Nasimi district of Baku.

The authorized capital of the enterprise is 171,740 manat with 85,870 shares. The face value of each share is two manat. A total of 80, 680 shares with a total face value of 161,360 manat have been put on tender.

The company's debts hit 93,352 manat as of Jan.1, 2011, including debts to pay wages 14,540 manat, and debts to pay for the purchase of raw materials and rendered services at 2,147 thousand manat. The enterprise’s accounts receivable hit 470,880 manat. The enterprise has been operating since 1966.

Applicants may learn more about the conditions at 20 Y. Safarov St. in Baku, at 10:00-17:00 until April 5, 2011. Documents and proposals must be submitted at 10:00-17:30 until April 5, 2011.

The proposals will be considered by the Committee's contest commission from 11:00 April 7, 2011.


/Trend/