In 2020 SOCAR Turkiye Enerji, daughter company of SOCAR, is going to do primary placement of shares (IPO), Zaur Gakhramanov, SOCAR Turkiye Enerji President, told journalists.
“There is a great interest in shares of SOCAR Turkiye Enerji at the market. This suits us, because in 2020 we would like to place IPO, SOCAR is going to preserve 51% of bloc of shares and the remaining 49% will be open for the market. Currently the investors have only 13% shares of SOCAR Turkiye Enerji,” Gakhramanov said.
SOCAR Turkiye Enerji holds bloc of shares of Petkim Petrokimya Holding complex, Star oil refinery, which is under construction, Petlim trade terminal, companies generating power SOCAR Power Enerji Yatirimlari A.S., companies selling gas SOCAR Gaz Ticareti A.S., company providing fiber-optical services SOCAR Fiber and company selling oil products SOCAR Turkey Petrol Enerji Dagitim A.S.
Until the end of this year SOCAR Turkiye Enerji plans to buy 7% bloc of shares of TANAP A.S. gas pipeline company.
By August 2015 capitalization of SOCAR Turkiye Enerji has been estimated by the Turkish financial specialists at $10 billion. After launching of all the facilities, in which SOCAR Turkiye Enerji has bloc of shares, the company’s capitalization will go up significantly. Thus, SOCAR Turkiye Enerji plans to put them to the market when it could derive more profit from them.—0-
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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