Azerbaijan re-sets out 99.1% of shares of regional water building company for contest

Baku, Fineko/ The State Committee for Property Affairs has announced a new investment contest for sale of 99.1% of Mugansutikinti (Mugan Water Construction) shares. As previously the subject of the contest was formed from standard investment contest package (85%) and balance of shares after their preferential sale to labor collective (14.1%).

The first contest that should have been finished on 13 December 2011 gave no results.

The State Committee reports that both local and foreign investors can take part in the contest.

The claimants should submit a banking guarantee for 5% of investment proposals’ cost which should be at least AZN 70,000 (earlier AZN 110,000).

Besides, the investor should also present a proposal for transfer of AZN 200,000 to State Budget against AZN 300,000 in the first contest

The competitor should submit an investment program (proposals for installation of necessary equipment), provide information about its activity and a copy of its Charter and get more information at 10 am – 5 pm until 4 April 2012 at the address: 20, Yu.Safarov Street, Baku. Documents and bids from the competitors are received at 10 am – 50 pm until 4 April 2012. The tender commission will start estimating the bids at 3 pm on 6 April.

The Company is situated in Sabirabad district of Galagayin village. The enterprise produces building materials and conducts building and assembling works.

Its charter capital is AZN 674,434 and 337,217 shares with face value of AZN 2 each were issued for it.

The competition subject is 334,166 shares with overall nominal value of AZN 668,332.

The Company has debts of AZN 799,639, including AZN 22,367 of debts on wages and AZN 22,372 of debts on goods, works, and services. The enterprise was owed for AZN 804,611. The Company has personnel of 67 employees.

For the period of the first contest the Company had debts of AZN 1.2 million, including AZN 47,327 of debts on wages and AZN 267,832 of debts on goods, works, and services. Then then enterprise was owed for AZN 1.227 million. The Company has personnel of 67 employees.


03.03.2012 10:51


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