The State Committee on Property has summed up the 8th specialized money auction, in which any person having at least 2 manat in cash could take part.
Bidding took place from 24 to 28 of December last year, and 218 applications were accepted along with 54,322 manat to acquire 55% of the shares of two companies in the country. The nominal value of auctioned shares of Tartar Ikhtisaslasdirilmis Neqliyyat(Transportation) and Goranboy Et (meat processing plant) was 58.5 thousand manat. Thus, investors bought shares almost at their face value, while on cash auctions shares (from 30% to 45%) available in one package are sold at no more than 50% of the nominal value.
Note that specialized cash auctions have been held since 2011. They have sold stakes in about 10 JSC. Applications and cash in the auctions are accepted in the intramural form. It is noteworthy that some investors say that they are applied restrictions on the size of funds submitted. ----08D
Economics
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