Economy Ministry announces new auctions to sell state stocks

The Economy and Trade Ministry will auction on the Moldova Stock Exchange state's stocks in 40 societies, Info-Prim Neo reports. First vice premier Igor Dodon told a news conference on Thursday, May 22, the auction will last from June 16 to 20. In half of those 40 joint ventures, the state has the controlling stake. The start price of all the packages is 270 million lei. The Economy Minister hopes it will double, judging by previous experiences. Concomitantly, the state will hold a contest to sell the assets of 10 companies. These are located both in Chisinau and districts and operate in different industrial branches. Their equity is worth 13 million lei each, and their total start price is 184 million lei. The assets will be sold to the buyer proposing the highest price in the open contest. Igor Dodon sends a clear message to potential investors: in some two-three months the state will auction the universal store Unic and the Tobacco factory Tutun CTC. “Their starting price is 200-300 million lei and, respectively: 220-260 million lei. We hope there will be local investors among bidders,“ said the vice premier. Dodon has said the Government has launched a new contest to select an advisor to privatize Banca de Economii, ending in June. The winner will be announced before September 30. Other major companies, as SA Moldtelecom, will be set for sale when the market conjuncture is favorable. In 2007 the state budget got 199 million lei from privatizations, instead of the planned 193 million, as already 140 million lei were transferred, instead of 99 million planned. The first deputy premier says the money from the privatization will be transferred to special account to be used for huge investment projects.