The auctions to sell state-owned shareholdings in 21 companies operating in different sectors of the national economy were kicked off at the Moldova Stock Exchange. The holdings in 16 companies exceed 50% of their share capital, IPN reports.

The state sells its shares in the cognac factory “Barza Albă”, tobacco company “Tutun CTC”, 11 road companies “Drumuri” and others at the total initial price of 983.5 million lei.

The auctions form part of the new privatization round launched by the Public Property Agency in July 27 this year. The round includes a commercial contest, an investment contest and an outcry auction to sell construction complexes and 12 state-run enterprises as undividable property. The total selling price of these is over 1.5 billion lei.