The shares of a number of enterprises of SOCAR, operating as joint stock companies, will be put up for sale. This was stated by the President of SOCAR Rovnag Abdullayev.
According to him, work is ongoing in this direction: "We will choose companies with a high yield to motivate the citizens."
Abdullayev said SOCAR is not planning to enter the primary market of shares (IPO).
He also noted that the entry of foreign borrowing and bond issuance are not on the agenda: "The purpose of the bond issue of SOCAR was to redirect the interests paid to foreign investors to domestic investors. Borrowing in foreign markets should be long-term. We don’t have such plans now." -12D--
Economics
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Croatian Prime Minister Andrej Plenković announced enhanced efforts by Croatia to protect the Adriatic Sea and advance renewable energy projects during his address at the COP29 summit in Baku on Wednesday.
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Italian Prime Minister Giorgia Meloni on Wednesday called for collective action to limit global warming to 1.5 degrees Celsius during her address at the COP29 summit in Baku, emphasizing the need for a united response to the climate crisis.
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Greek Prime Minister Kyriakos Mitsotakis on Wednesday urged European leaders to pursue a "smart green deal" at the COP29 summit in Baku, advocating for a balanced approach to the energy transition that takes into account both environmental and economic realities.
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Kuwait’s Crown Prince Sheikh Sabah Khaled Al Hamad Al Sabah affirmed the country’s commitment to environmental sustainability during a high-level meeting at the COP29 summit in Baku on Wednesday, emphasizing Kuwait’s adherence to international climate agreements, including the Kyoto Protocol and the Paris Agreement.
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