Baku, Azerbaijan, March 5
By Ilkin Shafiyev – Trend:
Shares of the Turkish petrochemical complex Petkim increased by 138 percent in 2017, and reached the record high of the past three years, the Turkish media quoted Anar Mammadov, general manager of Petkim Petrokimya Holdings AS, as saying.
Currently, the value of Petkim shares on the Istanbul Stock Exchange is 8.09 Turkish liras per share.
Mammadov reminded the plans of Socar Turkey Energy AS in the near future to carry out an initial public offering of shares (IPO).
“We are planning an IPO for Socar Turkey Energy in the upcoming period. The details are not defined yet. According to our estimates, oil prices will stand at about $60. This is a good price for us,” he added.
Earlier, Head of SOCAR Turkey Enerji Zaur Gahramanov spoke about the IPO plans of the company, scheduled for 2020.
SOCAR Turkey Energy is one of the biggest investors in the Turkish economy. It is expected that in 2018, the consolidated turnover of SOCAR Turkey Enerji will reach $15 billion and the company will become the second biggest industrial company in Turkey with 5,000 employees and export potential of $3 billion.