Shares of tire producer enterprise set out for investment competition in Azerbaijan

Baku, Fineko/ The State Property Committee of Azerbaijan has announced an investment competition for sale of 96.98% of the Azershin JSC’s shares, including usually set out 85% of standard package and 11.98% of the balance after labour staff subscription for enterprise’ shares.

The competition is allowed both domestic and foreign investors. The investor is to submit a 5% bank guarantee of the investment offer cost. The investor should also transfer AZN 100,000 to State Budget and write off at least 8,000 privatization cheques (also an equal number of options for foreign applicants).

Along with its application the competitor should submit an investment programme to cover the proposals for purchase of new technologies, output quality improvement, equipment restoration, expansion of range of its products and creation of new jobs.

The applicant should also provide information about its activity and a copy of its Charter and get more information from 10 am till 5.30 until January 7, 2009 at the address: 20, Yu.Safarov Street, Baku. Applications and bids from the competitors are received from 10 am till 5:30 pm on January 7, 2009. The tender commission will start estimate of the bids at 10:30 am on January 9, 2009.

Azershin JSC (a tire producing factory) is situated at the address: 8, Araz Street, Baku. Its floor space is 17.88 hectares. The factory produces and sells tires.

The JSC’s charter capital is AZN 1,788,628 and 894,314 shares with face value of AZN 2 each were issued for it.

The competition subject is 867,309 shares with overall nominal value of AZN 1,734,618.

The enterprise has debts of AZN 5,658,585, including AZN 201,734 on wages.

The debtors have owed AZN 2,452,270 to the factory. Azershin JSC has been operating 1959.



06.12.2008 10:44


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