Features on the privatization of Nakhchivan

On Thursday, April 25 in the Nakhchivan Autonomous Republic (NAR) completed a specialized cash auction, which sold a controlling stake in a plant for the production of glass containers. The Republican Centre informally recognized the right of the autonomy to organize the privatization as part of its "economic sovereignty."

In the NAR operates the local Office of the State Securities Committee. It carries out state registration of the securities issue. However, the information resource of SCS has no information about the registration of this issue, as well as other issues of securities in the NAR. Like most territorial ministries and departments, the Nakhchivan management of the SCS has no Internet site. So, what securities are legally entitled to appeal the autonomy is unknown.

Turan appealed to the leadership of the SCS with a written request for the activities of its sole territorial management. However, they did not respond to it.

In NAR, there is a branch of the National Depository Center. This structure does not reveal information on the securities market. Recently it became known that the two privatized companies (the hotel Tabriz and a plant for the production of industrial gases) informed their shareholders about the self-dismissal and the withdrawal of their securities from circulation.

The source of information on the implementation of privatization and the existence of the privatized enterprises in the NAR is authority of the Supreme Majlis of NAR, the newspaper Sherg Gapisi (Door to the East).

As published Sherg Gapisi, referring to the Ministry of Economic Development of the NAR, 21-25th April there was a special cash auction of 94,504 shares of Shushe Gablar. In February-March 2014 11 workers of the glass container plant were offered 15% of the shares of this stock. The results of the auction have not been reported. - 08B-

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