Baku, Azerbaijan, May 29
By Maksim Tsurkov, Azad Hasanli - Trend:
SOCAR Turkey Enerji has adjusted the time of the initial public offering (IPO) of shares for 2021, SOCAR Turkey Enerji CEO Zaur Gahramanov told reporters May 29.
He noted that this issue is still on the agenda of the company.
"We are preparing to start the IPO in 2021. This is not a one-day process. It is necessary to carry out all the procedures, and companies must bring in revenues, and prepare a five-year financial report which will be audited by international companies. This is a long process, and it is successfully continuing," Gahramanov said.
It is expected that in 2018, SOCAR Turkey Enerji's consolidated turnover will reach $15 billion and the company will become the second largest industrial company in Turkey with 5,000 employees and $3 billion of export potential. It aims to become Turkey's largest industrial company by 2023.
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