SOCAR Trading's fair value revealed

Baku. 10 March. REPORT.AZ/ According to valuation results, fair value of SOCAR Trading, subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR), approximates $ 1.15 bln.

Report informs referring to SOCAR Trading.

According to report, as part of a regular assessment of SOCAR Trading’s progress from its inception in to its current position in the market, company has mandated one of the “Big 4” professional firms to perform a business valuation of SOCAR Trading.

According to valuation results, the fair value of SOCAR Trading as of 30.06.2016 approximated USD 1.15 billion: "This represents a nearly 4x value accretion of the fair value of the company compared to a previous valuation of USD 310 million conducted by the same firm as of 30.06.2012. SOCAR Trading’s increasing reliance on third party crude sources, coupled with strong business development focus in North America, Africa and Asian markets will work towards consistently increasing volumes and profitability in the years to come".