The 1.5% state-owned shareholding in the Edinet-based joint stock company INLAC was sold at the first outcry auction to sell state-owned shares, which was held at the Moldova Stock Exchange on May 19, IPN reports.

The selling price of a share was 70 lei and the buyer paid thus 47,300 lei for the 1.5% shareholding. INLAC produces milk, butter and powdered milk.

The auctions to sell state-owned shares in 24 joint stock companies will continue during the next three days, until May 22. In 11 of these companies, the state has controlling interest.

A sum of 230 million lei was planned to be collected into the state budget for this year from the sale of public property.