Dec 02, 2004. /Lesprom Network/. Repeated auction to sell 20% of Pytkyaranta shares at RUR 270.682 million initial cost failed due to the lack of offer applications, Karelia Republic state property fund spokesperson told Lesprom.ru. A stake of 54336 ordinary shares at RUR 25 par value per share was set for sale on December, 1 2004, a total of 20% of the enterprise's stock capital (10% owned by the local ministry of state property and 10% owned by Karellesprom). Pytkyaranta pulp mill was established in 1921, shares were issued in 1993. The enterprise produces pulp, tall oil, turpentine and other products. The enterprise's stock capital is RUR 6.7918 million, divided into 271672 shares at RUR 25 par value per share. The company's assets are estimated at RUR 781.098 million by July, 1 2004.