Rus News Journal

Sale of actions at check auctions

the State Property Committee has started State program realisation

Ideologists of voucher privatisation directly connect the basic results of activity of the State Property Committee in the last two days with successful end of a stage of gratuitous denationalisation. Obviously, therefore experts GKI first of all direct efforts to realisation of that part of the State program of privatisation which provides performance of state obligations on an exchange of checks for actions of the denationalised enterprises till July, 1st, 1994 Bodies of privatisation not only take measures on expansion of the offer of securities in primary stock market (p. 1 see), but also try to prevent possibility of the secondary reference of vouchers. The order which has arrived yesterday in mailing of Anatoly Chubays contains the list of the measures providing financing of activity of bodies of privatisation on destruction of extinguished privatisation checks.

According to Anatoly Chubays, there are real possibilities for successful end of check privatisation, and they should be used effectively. In particular, confirmed the decree of president Yeltsin Gosprogrammoj legalises possibilities of additional financing of operations on destruction of the extinguished privatisation checks at the expense of increase in quantity of the actions sold for roubles (about 5 % to 10 % from total of actions of the enterprise sold at specialised check auction). The order signed one of these days by Chubajsom allows to start the mechanism of such sales. As a result a gain from these monetary the auctions by a special-purpose designation will arrive in the local bodies of the privatisation responsible for storage and destruction of extinguished privatisation checks and financing of check auctions. These measures as it is impossible are more timely, as the State Property Committee expects considerable growth of rates of gathering of vouchers. While (from the end of 1992) According to the assistant to the State Property Committee Dmitry Vasileva, by means of check auctions it was possible to collect about 67 million vouchers, and taking into account the closed subscription (basically among labour collectives of the denationalised enterprises) their number reaches 75 million Therefore naturally that for successful performance of state obligations on an exchange of the remained checks for actions of the enterprises within the term established by the State program (the next 4 months) the State Property Committee management has decided special attention to turn on quality of the denationalised enterprises which actions will be exposed at check auctions. As, by estimations of Vasileva, these enterprises will be no more than 4,5 thousand (earlier through check auctions actions of 8,5 thousand enterprises have been sold).
it is obvious that additional realisation of actions (out of the closed subscription and check auctions) can be used not only for financing of voucher privatisation. It is not excluded that developers of the mechanism of the monetary auctions by actions of the privatised enterprises, stimulating the accelerated sale of actions, aspire to neutralise thus measures otraslevikov and the regional authorities on freezing of actions of the privatised enterprises for formation of holding structures (p. 9 see) or for realisation of administration managerial control by the enterprises in interests of region .