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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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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