Mogilev Department Store is planning to sell 48.75% of shares by auction, Interfax-West learnt from Vice Mayor Oleg Litenkov.
Currently those shares belong to the municipal authorities, the source specified.
A total of 132,748 shares will be auctioned on November 10. They are expected to be sold for at least BYR 6.015 billion, and the payment should be made within 30 days since the auction.
The sale is expected to help the department store upgrade its facilities, expand the shopping space, replenish current assets and build a multi-storey parking lot for 100 cars.