Packages of shares of 14 Open Joint-Stock Companies in the Vitebsk region are offered for sale in 2016
Share packages of 14 open joint-stock companies belonging to the Vitebsk region are offered for sale at auctions or through tender in 2016, as reported by the Vitebskoblimushchestvo fund.
For the first time, securities of 7 joint-stock companies have been included in the privatization list, including OJSC "Vitebsk Motor Repair Plant", "Obolsky Ceramic Plant", "SPMK-27, Polotsk", "Vitebsktorghstroy", "Tiraspol Agrotechservice". In most cases, packages of 50% of the charter capital minus one share are offered for sale. At the same time, the possibility of increasing the number of securities for sale is provided by the decision of the Vitebsk Regional Executive Committee, if there are substantiated proposals or business plans from potential investors. Exceptions are OJSC "Vitebsktorghstroy" and "ATEK", in which the region is ready to part with packages of 38.77% and 35.15% of the charter capital, respectively. In addition, securities of OJSC "Orshasyrzavod" and "SPMK-27, Polotsk" (54.25% and 87.99% respectively) are offered for sale through tender with preliminary conditions. These conditions concern the preservation of the enterprises' business profile and jobs, as well as the need to make monetary contributions to the charter capital equivalent to $5 million and $1 million, respectively, within 2 years and 1 year from the date of signing the share sale and purchase agreements.
In 2015, following a tender, a share package of OJSC "UniversalTorg" exceeding 98.4% of the charter capital was sold for almost Br12.9 billion, belonging to the Chashniksky district. The domestic investor undertook to fulfill a number of conditions, including paying off the enterprise's creditors' debt, investing at least $150,000 in the development of the joint-stock company within two years, and re-equipping
shops, expand their product range, and also maintain the public catering network in the educational institutions of Novolukoml.