The State Property Fund has announced a tender on the privatization of a 99.4% stake in OJSC Foton, a TV set producer, reads a statement posted in the Vidomosti Pryvatyzatsii (the Bulletin of Privatization) publication, UKRINFORM reported.

The initial price of the stake will be UAH 66.511 million (UAH 7.95 / USD 1).

The company's authorized capital is UAH 66.855 million. The company sold UAH 1.473 million worth of TV sets in the first three quarters of 2010.

OJSC Foton (Simferopol, Crimea, southern Ukraine) is a core business for the production of electronic equipment. Over more than 40 years, the company has produced about 14 million TV sets of various models. The plant currently manufacturers LCD TV sets.

Foton was earlier among the three largest TV set producers in the Soviet era and managed to maintain its high potential.

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