SOCAR again puts up stake in Petkim for sale

Baku. 24 June. REPORT.AZ/ The State Oil Company of Azerbaijan Republic (SOCAR) has decided to sell part of its stake in Petkim Holding, which is the company's assets in Turkey.

Report informs referring to the Turkish press in the coming days SOCAR will appeal to the Istanbul Stock Exchange on this issue.

"On June 26, or in the following days, we will appeal to the Istanbul Stock Exchange for the sale of part of our stake in Petkim Petrochemical Holding, purchase and sale for which has been canceled on June 8", - said SOCAR Energy Turkey.

SOCAR share in Petkim is 61.32%.Individual share of 1.6%, which the company expects to sell to potential investor includes 16 million shares with a total nominal value of 16 million TL (TRY).Stake in each cost 4 lira planned to sell for 64 millionTL.Against the background of parliamentary elections on June 7 in Turkey, the dollar rose by 7%.