Russia auctioning nationalized Metafrax Chemicals at starting price of 14.7 bln rubles

PERM. Sept 4 (Interfax) - Russia's Federal Property Agency has announced a closed auction to sell almost 97% of shares in JSC Metafrax Chemicals , which was transferred to state ownership in 2023.

The sale, which will be restricted in the composition of bidders, will be held in the form of an electronic auction, the Torgi state information system said. The lot includes 284,599,228 common shares with par value of 1 ruble each amounting to 96.9% of the Perm Territory-based company's charter capital.

The starting price for the lot has been set at 14.7 billion rubles and the bidding increment is 737.1 million rubles. The deposit for participation in the auction is 2.9 billion rubles.

Applications to bid will be accepted from September 4 to 30, the list of bidders will be announced on October 7 and the auction results will be announced on October 9.