November 3 (SeeNews) - Romania launched on Tuesday an open-bid tender to sell its 70.02% stake in shipping company CNM Petromin at a starting price of 14.96 million lei ($5.1 million/3.5 million euro) after a previous attempt to find a buyer failed.
A tender opened in July this year attracted no bidders, the Romanian government's asset-selling agency, AVAS, said in a statement.
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Bidding in the current tender will begin at 0900 GMT on December 11. Interested investors should submit the relevant documents by 0900 GMT on the previous day, AVAS said.
The starting price is set at 0.95 lei per share. The company's shares have a nominal value of 2.5 lei each, it added.
The last transaction with CNM Petromin shares on the Romanian over-the-counter market RASDAQ was conducted on October 15 at 0.16 lei per share, down 46.67% from their previous trading.
CNM Petromin, based in the Black Sea port of Constanta, has a share capital of 56.22 million lei. Romanian investment fund SIF 3 Transilvania holds a 23.83% stake in the shipping company.
(1 euro=4.3062 Romanian lei)