President to coordinate stock issue in agricultural processing industry
MINSK, 12 March (BelTA) – In order to protect the interests of the state the second and further stock issues of the open joint stock companies that process agricultural products and which have been set up during privatization of state property will be coordinated by the President of Belarus. On 11 March Alexander Lukashenko approved corresponding Decree No. 1 that introduced amendments and additions to Decree No. 3 of 20 March 1998 “On destatization and privatization of state property in the Republic of Belarus”, BelTA learnt from the presidential press service.
The document vests the State Property Committee with the authorities to grant second and further stock issues of the open joint stock companies which are not agricultural processers and which have been set up during the transformation of national unitary companies. The information on the open joint stock companies should be included into the register of juridical entities that secure operation of strategically significant sectors of the economy. As regards the open joint stock companies set up from municipal unitary companies, the second and further issuance of their shares are to be coordinated with the relevant local executive and regulatory authorities.
The State Property Committee has been also authorized to decide on selling and lowering the initial price for the state share in the open joint stock companies set up from the national unitary companies and included into the privatization list.
The document will help significantly reduce the time spent on selling state shares, simplify the procedure and make it more transparent and clearer for potential investors.
