Baku, Azerbaijan, April 30
By Leman Zeynalova – Trend:
Petkim petrochemical complex in Turkey, owned by Azerbaijan's State Oil Company SOCAR has decided to increase its capital by 28 percent, Trend reports citing Turkey’s Public Disclosure Platform.
Reportedly, it was decided by the company’s general assembly meeting to increase Petkim’s paid-in capital within the upper limit of the company's registered capital 4 billion liras, from 1.65 billion liras to 2.112 billion liras.
The increase in share capital amounting 462 million liras shall be covered from retained earnings, said the company.
Petkim produces plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of such products, the company exports a quarter of its production. The complex includes 14 factories producing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.
Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, 49 percent of the shares are in free float on the stock exchange.
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