Shares of some SOCAR enterprises will be put for sale

Baku. 18 October. REPORT.AZ/ Shares of some enterprises of the State Oil Company of Azerbaijan Republic (SOCAR), acting in the form of a joint stock company, will be put on sale.

Report informs, SOCAR President Rovnag Abdullayev said.

According to him, relevant work is underway: "Perhaps we will choose profitable enterprises to cause interest of our citizens."

R. Abdullayev stressed that SOCAR doesn't intend to participate in the initial public offering (IPO).

SOCAR President also noted that issue of bonds for foreign debt market is not actual at present: "Aim of the issue of SOCAR bonds is to direct interests, paid to the foreign investors towards the domestic investors. If to attract funds from foreign market, it should be of long-term. Such borrowing is required for us regarding long-term projects. We have no such a plan yet."