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SOCAR’s daughter company promises IPO in 2020
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-
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