Sep 30, 2004. /Lesprom Network/. The auction to sell 20% of Pytkyaranta shares (Karelia Republic) failed, Karelia State Property Fund spokesperson told Lesprom.ru. The auction failed due to the lack of offer applications: 'Repeated auction may take place after a month.' the spokesperson said. 54.336 thousand shares owned by Karelia Ministry of state property were set for sale, auction step – RUR 15 million will remain unchanged throughout the auction. Pytkyaranta pulp enterprise was privatized in 1993. The main production trends are pulp, tall oil, turpentine and etc. Stock capital – RUR 6.7918 million, divided into 271.672 thousand shares at RUR 25 per share par value. Balance cost of the assets by July, 1 2004 was estimated at RUR 781.098 million.