Baku, Azerbaijan, Dec. 10
Petkim Turkish Petrochemical Holding intends to increase its authorized capital by 50 percent - to 1.5 billion Turkish liras, the message of the holding said.
The decision to raise the authorized capital was made at the meeting of the Board of Directors of Petkim in August 2015.
"The capital will be increased through an additional issue of shares worth 500 million Turkish liras," said the message. "The company has already started to prepare the relevant procedures."
SOCAR has 61.32-percent share in Turkey's Petkim Petrochemical Holding.
Petkim 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.