8 Jul '08
Chuvashia Property Fund is to hold an open tender to sell Volzhskaya Textile Company’s 19.53-percent stake, the republic’s Ministry of Property and Land Relations reports.
499,557,660 common shares are offered for the auction at a $0.04 face value each. The initial stake price is $12.5m.
Volzhskaya Textile Company carries out a full cycle of cotton processing. The company includes seven light industry firms in Chuvashia, Ivanovo and Kaluga Regions.