The proposal to privatize the State Oil Company of Azerbaijan (SOCAR) today was received from the Chairman of the Board of Directors of the Financial Markets Supervision House (FMSH), Rufat Aslanli.
According to his statement during the presentation of the first issue of local bonds by SOCAR, it is only the beginning, and in the future there will be a massive issue of shares to a wide range of shareholders. ‘Several years ago, there was a conversation with the President of the company, Rovnag Abdullayev, so the idea is implemented,’ he said.
According to Aslanli, the House is going to monitor the strict implementation of SOCAR’s obligations under the security of the rights of investors.
According to experts, this is a moot point, because control of the oil company is fully at the country's President, so the problem of its privatization under the existing legislation depends on his will. In addition, evaluation of SOCAR’s assets, including its subsidiaries scattered abroad, is to be carried out. It is also necessary to solve the legal questions, so most likely, in the case of a decision on the privatization the majority stake will remain at the state. --17D-
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