Privatized enterprise with the ability to change the profile

The State Committee on Property offered on June 7 investors 99.88% stake in the plant Jeyranbatan plastic pipes (Absheron region) of former Azersutikinti.

In addition to investing in the company, applicants must submit a proposal for the transfer to the state budget of at least 400 thousand manats. Thus, the stake JSC Ceyranbatan Polymer Materiallari (480,869 shares) offered to investors at a price of 41.6% of the nominal value. One share is AZN 2.

 Sale of 15% stake in JSC was held in late December 2013 - early January this year. Of the 20 members of the personnel in the subscription for the shares was attended by 19 people who for 972 manats acquired 0.12% stake. Unrealized 14.88% shares are now being offered to investors.

Under the terms of the investment competition, applicants are not obliged to keep the old profile of the company, and are free to choose a new activity, although the manufacturing sector pipes based on polymer materials in Azerbaijan over the past 5-7 years is experiencing growth.

The company’s liabilities as of June 1 amounted to 172,200 manat, of which 26,650 manat were debts on wages and related payments. Enterprise should at 100,000 manat less.

In Azerbaijan, the largest enterprises for the production of plastic pipes are LLC Sumqayit Texnologiyalar Parki, LLC Azertekhnoline, firm NJT-2000, JSC Dernegul Boru Zavodu, JSC Sumqayit Senaye Istehsal, LLC Design Cenay Azerbaycan, JSC Sempa etc. - 08B-