SOCAR announces reason for refusal to sell Petkim shares

  10 June 2015    Read: 1102
SOCAR announces reason for refusal to sell Petkim shares
The reason for the refusal of SOCAR (State Oil Company of Azerbaijan) to sell 3.4 percent from the package of shares of Turkey`s Petkim Petrochemical Holding, which is in free circulation at the Istanbul Stock Exchange, is a drop in stock indices on the stock exchange, head of SOCAR Turkey Enerji, board member of Petkim Petrochemical Holding Kenan Yavuz told.

It is expected that the package of shares of Turkey`s Petkim Petrochemical Holding will again be offered for sale in the coming days, he said.

SOCAR (State Oil Company of Azerbaijan) refused from selling 3.4 percent from the package of shares of Turkey`s Petkim Petrochemical Holding, which is in free circulation on the stock exchange June 8.

As of 2014, the value of the Petkim holding’s shares was the highest among the 30 shares of large companies listed on the Istanbul Stock Exchange.

Petkim, in which SOCAR has a share of 61.32 percent, produces plastic packages, fabric, detergents and is the sole Turkish manufacturer of such products, a quarter of which is exported.

The rest of the complex shares are in free circulation on the stock exchange.

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