Chukotka-based fishing company sold for $63 million

JSC "Chukotrybpromkhoz" owned by the regional government has been sold by auction with the starting price exceeded by 2 billion rubles mostly due to the quota shares it owns until the year 2033 for fishery in the Russian Far East, reports Megafishnet.com.

According to the Russian Auction House (RAD), on August 9, it held the auction on behalf of the Department of Finance, Economy and Property Relations of the Chukotka Autonomous District.

As part of the privatization program of the region's property, a 100% stake in JSC "Chukotrybpromkhoz" was sold.

The main asset of the company is quotas for catching pollock, cod, halibut, blue crab and snow crab valued at 2.16 billion rubles. The quotas are valid until 2033.

Two bidders took part in the auction. During the auction, the participants raised the initial price almost twice.

The winner of the auction- FISH PROCESSING PLANT "OSTROVNOY" LLC - purchased the lot for 4,625 billion rubles (the initial price was 2.5 billion rubles).

The auction was held on the electronic trading platform ETP RAD-Lot-online.