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Deutsche Bank raises target price of Petkim’s shares

Business Materials 23 August 2016 11:43 (UTC +04:00)
Germany’s Deutsche Bank has raised the target price of shares of Turkey’s petrochemical complex Petkim.
Deutsche Bank raises target price of Petkim’s shares

Baku, Azerbaijan, Aug. 23

By Rufiz Hafizoglu – Trend:

Germany’s Deutsche Bank has raised the target price of shares of Turkey’s petrochemical complex Petkim, Borsahaber newspaper reported Aug. 23.

Thus, the price of Petkim’s one share has increased from 4.2 to 4.6 Turkish liras.

Petkim produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported.

The complex includes 14 plants which produce 20 various types of products. The annual production capacity of Petkim is 3.6 million tons.

Its shareholders are: SOCAR Turkey Petrokimya AS – 51 percent, SOCAR Turkey Enerji AS – 5.3216 percent, while 43.6784 percent of the shares are in free float on the stock exchange.

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Follow the author on Twitter: @rhafizoglu

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