The shares of a number of enterprises of SOCAR, operating as joint stock companies, will be put up for sale. This was stated by the President of SOCAR Rovnag Abdullayev.
According to him, work is ongoing in this direction: “We will choose companies with a high yield to motivate the citizens.”
Abdullayev said SOCAR is not planning to enter the primary market of shares (IPO).
He also noted that the entry of foreign borrowing and bond issuance are not on the agenda: “The purpose of the bond issue of SOCAR was to redirect the interests paid to foreign investors to domestic investors. Borrowing in foreign markets should be long-term. We don’t have such plans now.”
