Investment contest for 97.78% of shares of fiberglass factory’s shares announced in Azerbaijan

Baku, Fineko/ The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 97.78% of shares of JSC Mingecevir Suse Lifit (Mingachevir Fiberglass 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 (12.78%).

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 100,000 or currency equivalent.

Besides, proposals should be presented for transfer of AZN 300,000 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 3 pm on 1 April 2011. For more information call to the State Committee: 4902408 (extension: 242).

The factory (add: 108, Heydar Aliyev Avenue, Mingachevir city) produces fiber glass, electrically insulating fiberglass cloths and glass bands.

The enterprise’s charter capital totals AZN 494,780 and 247,390 shares were issued for it with face value of AZN 2 each.

The competition subject is 241,888 shares with overall nominal value of AZN AZN 483,776.

Mingecevir Suse Lifit has liabilities for AZN 651,619, including AZN 10,251 on wages and AZN 641,368 on payment of goods, works and services. Enterprise’s accounts receivables reach AZN 137,139. The enterprise has been operating since 1965 with personnel of 115 employees.




26.02.2011 12:15


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