About Civil.ge
Eng | Geo | Rus
Last updated: 18:01 - 29 Mar.'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
29 Mar.'17 18:01
Russia Incensed by UNSC Discussion on Georgia
Russia’s UN Permanent Representative accused Tbilisi of harming the Geneva International Talks.
29 Mar.'17 14:51
UN Security Council Holds Discussion on Georgia
United Nations Security Council held a closed door discussion on Abkhazia and South Ossetia.
29 Mar.'17 13:08
PM Kvirikashvili Meets EU Leaders in Brussels
Georgian officials traveled to Athens and Brussels to celebrate the launch of the visa-free travel.
28 Mar.'17 20:02
In Athens, PM Kvirikashvili Stresses Georgia’s European Roots
Georgian officials traveled to Athens to mark the launch of the visa waiver to the Schengen Zone.
28 Mar.'17 16:30
EU, Georgian Officials Take to Twitter to Celebrate Georgia’s Visa-Free Travel
Georgian citizens no longer require a visa to travel to the Schengen Zone.
28 Mar.'17 16:14
Visa Waiver Boosts Georgia’s European Ambitions
‘Our ambition is to make Georgia a full member of the European Union,’ Foreign Minister said.
28 Mar.'17 13:41
Government Speaks on Safeguards against Visa-Waiver Abuse
Georgian border guards will start interviewing “in detail” all travelers heading to the Schengen countries.
28 Mar.'17 12:18
Georgia Celebrates Visa Free Travel to EU
Georgian officials travel to Athens, Brussels to mark the launch of the visa-free travel to the Schengen Zone.
27 Mar.'17 15:55
Runoff Parliamentary Vote in Breakaway Abkhazia
Independent candidates win 86 percent of Abkhaz parliamentary seats.
26 Mar.'17 02:59
Owners Willing to Hand Controlling Stakes to Rustavi 2 Staff
Much still unclear about a surprise deal.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
29