The first major biddings on federal privatization in 2017 were carried out with a peak result – block of shares of JSC Moscow Printing House № 2 was for 1.115 billion rubles, with an excess of 348 million rubles

On 28th of February at Moscow trading facility of the Auction House of the Russian Federation (the AHRF) the first major auction in this year took place. For sale was offered 100% block of shares of JSC Moscow Printing House № 2 from the Forecast Privatization Program for 2014-2016.
Currently the main activity of the enterprise is renting the real estate for offices. The company owns two buildings with total area of 20.3 thousand sq. m near the VDNkH (Exhibition of Economic Achievements) subway station in Prospekt Mira, 105.

Four bidders took part in the auction.
The participants of the auction made 698 steps for the price increasing.
The final sale price was 1.115 billion rubles.

The growth of price by the results of biddings was 45%.
The Buyer – a physical person

“Excess of the price by 348 million rubles is a peak level in the history of our biddings within the framework of privatization. There was sold the enterprise, which has ceased its activity long ago and did not bring any income for the state. Account payable of the company was not less than 55 million rubles. Such assets can be fully considered as illiquid for the state. And the price resulted during the auction demonstrates not only the correctness of the decision on privatization, but also the efficiency of classic biddings – if the sale took place in an electronic format, where each auction step takes 30 minutes, the auction will continue 349 hours (14.5 days (and nights). Such an extended auction would hardly be possible, and therefore, such a sale could hardly take place within the framework of electronic biddings”, – comments Angelica Imanova, Deputy General Director of AHRF.