LLC MKT Istehsalat ve Kommersiya, which directly or indirectly owns 14 ginneries in Azerbaijan, gave an impetus to the full privatization of state ownership in these companies. The State Committee on Property announced the sale of 30.34% of the shares of Beyleqan-Pambiq.
The shares are sold by the investment competition, which is the main requirement is to improve the processing of cotton and the expansion of its sales. It is noteworthy that the company MKT Istehsalat ve Kommersiya has created a limited liability company in the cotton mills, which work together on the basis of service contracts. The company receives a fee for the processing of raw cotton and the owner of the end products (cotton, seeds and other waste products) is a subsidiary company of MKT Istehsalat ve Kommersiya".
The loss of most cotton corporations account for about 50-60% of their share capital, and at any moment they could be declared bankrupt.
It is noteworthy that the company MKT Istehsalat ve Kommersiya started buying from the minority shareholders their shares at par value. They still buy the shares only from persons who are not members of the workforce. The State Property Committee requires AZN 40,000 for a 30.34% stake in Beyleqan-Pambiq. This represents 15.6% of the nominal value (255,000 AZN). Thus, it can be assumed in advance that the winner will be the same MKT Istehsalat ve Kommersiya, which belongs to the family of the Minister of Emergency Situations Kamaladdin Heydarov.
The authorized capital of JSC Beyleqan-Pambiq is 840.7 thousand manats. However, its commitment as of October 1, 2012 reached 690 thousand manats. - 08B-
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