SOCAR (State Oil Company of Azerbaijan) will sell 3.4% of Turkish Petkim petrochemical complex’s package of shares, which is in free circulation on the stock exchange, to the International Investment Fund.
Petkim’s shares will be sold at 4 Turkish liras per each share to the foreign funds, operating in the US and engaged in investment activity on the international markets. Unlu & Co is a mediator in the share sale through the Istanbul Stock Exchange, Trend reports.
Earlier, SOCAR Turkey executive director Kenan Yavuz said that this transaction testifies to great confidence towards SOCAR and Petkim. According to him, some shares were purchased for investment purposes through the Istanbul Stock Exchange at 2.10 Turkish liras per share in 2009-2010.
SOCAR's stake in Petkim is 61.32 percent. Petkim produces plastic packages, fabric, PVC and detergents.
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