Sep 17, 2004. /Lesprom Network/. Auction to sell 16.24% of Turtas shares failed due to the absence of offer applications, Russian Federal Property Fund Tyumen regional department spokesperson told Lesprom.ru. As Lesprom.ru reported earlier, RFPR Tymen regional department announced an auction to sell 1.346184 million ordinary nominal shares (16.24% of the stock capital) of Turtas timber enterprise (Tyumen region). Face value of the stake is RUR 6.73092 million, initial price – RUR 7.8 million. A total of 8.290.92 million nominal non-documentary shares were issued. The enterprise's credit arrears are estimated at RUR 18.79 million, including federal budget arrears – RUR 2.9 million, regional budget – RUR 1.14 million, local budget – RUR 1.55 million, state and non-governmental funds – RUR 1.32 million, debts before other creditors – RUR 11.86 million.