About Civil.ge
Eng | Geo | Rus
Last updated: 18:04 - 17 Nov.'17
RSS
Mobile
Twitter
Facebook
Government Back to SOEs IPO Plan
Civil Georgia, Tbilisi / 12 Apr.'12 / 19:14

Launching initial public offering of several major state-owned enterprises (SOE) on the London Stock Exchange is back on the Georgian government’s radar, Prime Minister Nika Gilauri said on April 12.

The government was considering IPO of the largest state-run enterprises, including of the Georgian Railway, last year, but the plan was shelved citing unfavorable conditions on the international stock markets.

“Situation [on international stock markets] has relatively improved,” PM Gilauri said at a government session, adding that for that reason discussion would now be resumed  “in the nearest future” on IPO of state-owned enterprises.

He said placement of eurobonds by these enterprises was also a possible option. The Georgian Railway issued eurobonds worth of USD 250 million with five year maturity in July, 2010.

In October, 2011 Parliament approved a legislative amendment allowing the government to float stakes of state-owned enterprises on international stock markets.

Minority stakes of the Georgian Railway; Georgian State Electric System, which is in charge of power transmission throughout the country; Georgian Oil and Gas Corporation (GOGC), the company which also operates the North-South Gas Pipeline, transporting gas from Russia to Armenia via Georgia; as well as electricity distributor in capital Tbilisi, Telasi, in which the state owns 24.53% are considered for IPO.

“I want to stress once again that we are talking about selling of minority [stakes of SOE]; neither management of any of these companies will be transferred; the management and majority stakes will remain under the state control,” MP Gilauri said.

Latest News
17 Nov.'17 18:04
Ombudsman Presents Report on Abkhazia Crossing Points Closure
Public Defender Ucha Nanuashvili believes human rights situation in Gali is “gradually deteriorating.”
17 Nov.'17 16:14
Georgian, Russian Diplomats Meet in Prague
Moscow says an expert meeting on 2011 WTO deal agreed, criticizes Georgia on NATO ties.
17 Nov.'17 15:20
Three Deputy Interior Ministers Appointed
New Interior Minister Giorgi Gakharia will have three deputies.
17 Nov.'17 14:47
Public Defender Calls for Broader Participation in New Ombudsman’s Selection
Georgian civil society organizations plan to nominate their candidates for the position.
16 Nov.'17 17:31
Georgia Joins Lapis Lazuli Corridor Agreement
Afghanistan, Turkmenistan, Azerbaijan and Turkey signed the agreement as well. 
16 Nov.'17 17:24
New U.S.-funded Training Program to Focus on Georgia’s Territorial Defense
Defense Minister Levan Izoria spoke on the new training program during his visit to the United States.
16 Nov.'17 12:32
Environmental NGO Calls for ‘In-Depth Analysis’ of Proposed Government Changes
The Caucasus Environmental NGO Network issued a statement on November 15.  
15 Nov.'17 17:50
In Tbilisi, Polish and Swedish FMs Reiterate Support for Georgia’s European Aspirations
Witold Waszczykowski and Margot Wallström held talks with Georgian leaders ahead of the EaP Summit.
15 Nov.'17 12:31
Putin Meets South Ossetian Leader in Moscow
Moscow extends compulsory medical insurance program to its citizens living in Tskhinvali Region.
14 Nov.'17 18:26
Newly Elected Tbilisi City Council Elects Chairman
The inaugural session was held on November 14. 

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
85