Investment contest for 99.34% of shares of Baku Automatic Equipment Factory announced in Azerbaijan

Baku, Fineko/ The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 99.348% of shares of JSC Baki Elektroavtomat (Baku Automatic Equipment Factory).

The shares package was formed from a standard package offered for investment contest (85% of shares) and the balance of shares after subscription for them by the labour collective (14.34%).

Both domestic and foreign investors are allowed to take part in the competition.

The investor should submit a 5% bank guarantee of the investment offer cost for at least AZN 220,000 or currency equivalent.

Besides, proposals should be presented for transfer of AZN 650,000 to State Budget.

Claimants should submit an investment program to contain proposals for preservation of the complex’s profile, as well as information about the enterprise’s activity and a copy of its charter and get more information at 10 am - 5 pm until 31 March 2011 at the address: 20, Yu. Safarov Str, Baku.

The documents and bids are accepted at 10 am – 5 pm until 31 March 2011.

The bids will be assessed from 11 am on 1 April 2011. For more information call to the State Committee: 4902408 (extension: 242).

The factory is located in Baku settlement Bina.

Baki Elektroavtomat produces equipment 1,000 KV industrial facilities and internal electric networks.

The enterprise’s charter capital totals AZN 1.255 million and 627,833 shares were issued for it with face value of AZN 2 each.

The competition subject is 623,663 shares with overall nominal value of AZN AZN 1.247 million.

Baki Elektroavtomat has liabilities for AZN 851,959, including AZN 75,804 on wages and AZN 169,211 on payment of goods, works and services. Enterprise’s accounts receivables reach AZN 74,354. The enterprise has been operating since 1961 with personnel of 39 employees.



26.02.2011 11:35


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