SOCAR may hold IPO of its subsidiaries in

28 November 2024

SOCAR may hold IPO of its subsidiaries in future

01:53 13 January 2017 Read: 1960

SOCAR may hold IPO of its subsidiaries in future

Azerbaijan’s state oil company SOCAR may hold an initial public offering (IPO) of its subsidiaries in the future, said Elkhan Hasanov, head of investments and operations department at SOCAR Capital (SOCAR unit which operates in the securities market).

There are no exact dates for holding the IPO and the companies whose shares may be put up for sale have not been selected yet, Hasanov said.

The Strategic Road Map for the prospects of the national economy of the Republic of Azerbaijan says the government may consider holding the IPO of some enterprises of the national companies, for example, the ones engaged in the production of polymer or retail sale of fuel.

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