Ganja confectionery factory re-sent to the contest

State Committee on Property of Azerbaijan once again put on an investment competition blocking stake ( 30.03% ) shares of "Genca Qennadi". Ganja confectionery factory was privatized in 1998 and the owners of 70 % of the shares can not restore its activity.

The government did not change any previously put forward conditions to the applicants . Portfolio investors have the right to retain or change the profile of the company.

Besides the investment project , applicants must submit a proposal to transfer GKVI the state budget not less than 550 000 manat.

Tendered shares previously offered in cash auctions for 50% of the nominal value . At the same competition , in the case of a successful outcome , the winner will pay the state budget 31.4% of the nominal value of shares.

According to the State Statistics Committee , in 2012 in the city of Ganja was produced 51.1 tons of confectionery , which is 35 % less than in 2011 .

Investors are encouraged to 793,926 shares with a total nominal value of 1 mln.587.8 thousand manats. The last time the shares tendered in June 2012 .

JSC "Genca Qennadi" was commissioned in 1973. There are 85 workers. Its charter capital is AZN 288.2 5 .

Obligations of "Genca Qennadi" on first January 2014 were up 513.5 thousand manat, of which 139.7 thousand - wage arrears . For eighteen months of salary arrears to workers increased by 32 thousand manats. - 08D-