On June 30, the State Service for Property Issues under the Ministry of Economy organized a press tour to Baku Shoe Factory Open Joint-Stock Company. The tour aimed at informing entrepreneurs and the public about the enterprise through the media and attracting potential investors.
First, media representatives became acquainted with the production process at the enterprise. They were kept informed about the technological equipment, manufactured products, used raw materials and materials, customers, and prospects for the privatization of the enterprise. It was reported that by the Presidential Decree of the Republic of Azerbaijan dated October 29, 2021, a number of enterprises and facilities of the Azerbaijan Industrial Corporation OJSC were opened for privatization, one of which is the Baku Shoe Factory. In connection with the implementation of the Decree, the State Service for Property Issues did efforts to prepare the enterprise for privatization, a privatization commission was set up at the enterprise in line with the current legislation, inventory work was organized, “Baku Shoe Factory OJSC was established and a decision was made to privatize it through investment competition. With the participation of an independent appraisal company, the authorized capital of the enterprise was determined and divided into 3,926,000 shares with a par value of 2 manats each, for a total of 7,852,000 manats.
The State Service invites potential investors to participate in privatization. For more information, investors can contact the State Service for Property Issues.
Note that the announcement of the participation of Baku Shoe Factory OJSC in the investment competition will be posted 30 days in advance on the official website of the State Service (emlak.gov.az) and on the Privatization Portal (privatization.az).
