Massive Cash Auction Announced

The State Committee for Property Affairs announced a second in this year dedicated cash auction for the sale of shares of privatized public companies. All three are located in the Autonomous regions.

Put up for auction the controlling shares of three AO. At the auction, which will be held from 17 to 21 September, has the right to take part, any person who has at least the nominal value per share - 2 manat. According to the rules, the value of shares is to be paid only in cash.

The auction will be held in the auction center for the trading of the State Property Committee and its five area offices (Ganja, Lankaran, Sheki, Sumgayit and Shirvan).

55% of the traded shares are related to the area of ??concrete, road services and construction. JSC Berde Demir Beton, Ismayilli Temir Tikinti and Ucar Tikinti Avtoneqliyyat were made corporate in April of this year and still have done nothing.

All investors are invited to 99,822 shares of the JSC.

Specialized cash auctions have been held since 2011 instead of voucher auctions. Practice has shown that these auctions do not become popular among investors, as they put up unprofitable enterprises. Generally, shares in these auctions are sold at an average price of 3-4 times lower than the nominal value. - 08D-