BAKU, Azerbaijan, Aug.12
By Leman Zeynalova – Trend:
Initial public offering (IPO) of Turkish subsidiary of Azerbaijan’s state oil company SOCAR has been postponed due to the pandemic, said Murat LeCompte, Chief External Affairs Officer at SOCAR Turkey, Trend reports.
Talking to Bloomberg TV, he didn’t announced the exact date of IPO.
Touching upon SOCAR’s investment plans in Turkey in 2021, LeCompte noted that the company will continue its investments in 2021 and no slowdown or changes in the plans are expected.
“We plan some additional investments in STAR Refinery and we continue making these investments. We are continuing construction work at the moment to increase the refinery’s capacity,” he said.
As for the new joint petrochemical complex project with BP, LeCompte said that the project is at the pre-FEED stage.
Earlier, Zaur Gakhramanov, head of SOCAR Turkey Enerji, told Reuters that SOCAR plans to list its Turkish subsidiary on the London, Hong Kong and Istanbul stock exchanges in 2021.
He did not specify the volume of shares in SOCAR Turkey Enerji that SOCAR planned to offer to investors, but said that shareholders and SOCAR’s management would decide how to use proceeds from the initial public offering.
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