Uzbekistan offers foreign investors 30% in glass plant Oniks

Date: 20 July 2004
Source: Interfax.com

Date: 20 July 2004

The Uzbek State Property Committee has announced the sale to foreign investors of 29.9% of the stock in Tashkent glass factory Oniks at a starting price of $1.037 million, the Committee's bureau for privatizing individual companies told Interfax.

Bids in the tender will be accepted until August 15, the time for submitting proposals runs out September 15 and the results are planned to be announced by the end of this year.

Preference will be given to the company will with largest offer and which assumes investment obligations for the plant, a monopoly producer of crystal products in Central Asia.

At the same time, 14.5% of the stock will be offered at a starting price of $502,000. This packet may be acquired by the victor of the main tender by separate contract with the enterprise.

The financial consultant for the Oniks privatization is the Russian investment company FINAM. At the end of 2003, FINAM signed an agreement with the property committee to provide privatization consultation.

Oniks's charter capital is 102.3 million sum. The government will retain 25% after 44.4% is sold to a foreign investor, the company workforce has 9.7% and other shareholders 20.9%.

The official exchange rate on July 15: 1,022.92 sum/$1.
600450 Uzbekistan offers foreign investors 30% in glass plant Oniks glassonweb.com

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