The Deutsche Bank raised market value of Petkim's shares

Baku. 23 August. REPORT.AZ/ Deutsche Bank raised the market value of shares of the largest asset of the State Oil Company of Azerbaijan (SOCAR) - Petkim Petrochemical Holding. Report informs referring to Borsa Gündəm website German bank increased the market value of shares by 9.5% - from 4.2 to 4.6 Turkish lira (TRY).

Notably at the auction on May 30, 2008, SOCAR/Turcas Enerji A.Ş. acquired 51% stake in Petkim Holding for $2.04 billion. On March 30, 2012 Socar Turkey Enerji A.Ş and SOCAR International DMCC OGG have privatized further 10.32% stake in Petkim Petrochemical Holding. Another 5% of shares purchased on the stock exchange. In addition, acquired share (15%) may be bought and sold depending on market conditions. SOCAR management has announced that the company will never reduce the holding share below 51%.