BAKU, Azerbaijan, June 6. SOCAR Türkiye, subsidiary of Azerbaijan’s state oil company, has scheduled initial public offering for 2024-2025, Zaur Gahramanov, CEO of SOCAR Turkey, told Trend.
“We postponed it to 2024-2025 due to the COVID-19 pandemic. We didn’t reveal the new window, but it will probable be in 2024-2025 or 2026,” he explained.
It was earlier planned to list SOCAR Türkiye on the London, Hong Kong and Istanbul stock exchanges in 2021.
SOCAR Türkiye, which is one of the most deep-rooted global oil and natural gas companies, initiated its business operations in Türkiye upon acquisition of 51 percent of the shares of Petkim from the Privatization Administration in 2008.
Drawing attention with its giant projects realized one after another which will have a total investment value of 19.5 billion US Dollars once completed, SOCAR Türkiye encompasses the best-in-breed companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (Wind Power Plant), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.
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