About Civil.ge
Eng | Geo | Rus
Last updated: 17:05 - 24 Oct.'16
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
24 Oct.'16 17:05
New Secretary of NSC Appointed
Davit Rakviashvili, former deputy state minister for reintegration, was appointed to this position.
24 Oct.'16 16:37
CEC Summarizes Proportional, Majoritarian MP Election Results
77 seats in the new Parliament will be allocated to three parties under the proportional representation.
24 Oct.'16 14:05
Some UNM Leaders Slam Roelofs’ Decision to Withdraw from MP Runoff
Ex-President Mikheil Saakashvili denied any involvement in the decision of his wife. 
23 Oct.'16 14:34
Repeat Elections in Four Precincts Go to Runoffs
UNM and GD candidates will compete in the second rounds in Marneuli and Zugdidi.
22 Oct.'16 20:39
Polls Closed, Vote Count Underway
Outcome of repeat elections will decide whether runoffs will be required in Marneuli and Zugdidi.
22 Oct.'16 14:11
CEC: Voter Turnout in Four Precincts by Noon
The highest voter turnout was recorded in precinct No.108 in the village of Jikhashkari by noon.
22 Oct.'16 11:00
Polls Open for Repeat Elections in Four Precincts
Repeat vote should decide whether races for Zugdidi and Marneuli majoritarian MP seats go into runoff.
21 Oct.'16 19:24
One Soldier Dead After Army Truck Overturns in Eastern Georgia
Accident occurred near the village of Bodbe when the truck was transporting 37 soldiers.
21 Oct.'16 13:50
Final Results of Adjara Elections
4 parties cleared threshold: GDDG - 45.13%; UNM - 29.62%; Burjanadze’s party - 5.89%, APG - 5.7%.
20 Oct.'16 19:10
Constitutional Court Elects New Chairman
Zaza Tavadze, who is a member of the Constitutional Court since 2010, took the chairmanship.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.