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Petkim increases authorized capital through equity

Petkim increases authorized capital through equity

Government increases its stake in International Bank of Azerbaijan (28 January 2017 17:46)
Every year, SOCAR invests some $150 million in Petkim (23 January 2017 15:46)

Date: 17 December 2015 19:12

Baku, Azerbaijan, Dec. 17

By Maksim Tsurkov – Trend:

Petkim petrochemical complex has appealed to the Turkish Capital Markets Board regarding an increase in the authorized capital up to 1.5 billion Turkish lira, the board said.

The decision was taken at a meeting of the Petkim Board of Directors in August 2015.

"The capital will be increased through an additional issue of shares by 500 million Turkish lira and equity," a statement said.

SOCAR has a 61.32-percent share in Turkey’s Petkim Petrochemical Holding.
Petkim produces plastic packages, fabric, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported. The rest of the complex shares are in free circulation on the stock exchange.

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