About Civil.ge
Eng | Geo | Rus
Last updated: 18:54 - 4 Mar.'15
 
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
04 Mar.'15 18:54
GD Blocks Parliamentary Probe into Sakdrisi
Most of the GD MPs refused to vote for composition of ad hoc investigative commission.
04 Mar.'15 17:54
U.S. Diplomat: Tbilisi Pursues ‘Thoughtful Strategy’ for its Security
“Georgia is doing everything it can and when time comes NATO will make appropriate decisions,” he said.
04 Mar.'15 14:42
PM Vows to Accomplish ‘Restoration of Justice’
“Lot has been done” for “restoration of justice,” but “many cases still remain to be investigated,” he said.
04 Mar.'15 11:21
Annual Inflation 1.3% in February
On monthly bases inflation stood at 0.1% in February.
03 Mar.'15 16:18
Breakaway Region’s Leader Discourages S.Ossetians From Going to Georgian Hospitals
Tibilov has again spoken out against S.Ossetian residents going to Georgia for medical treatment.
02 Mar.'15 22:40
At UN Human Rights Council, Georgian FM Criticizes Russia’s ‘Aggressive Policies’
“Russia’s aggression against Ukraine should be dully responded by international community,” she said.
02 Mar.'15 15:28
Georgian Parliament Speaker Visits U.S.
Usupashvili is accompanied by GD MP Tedo Japaridze, who chairs foreign affairs committee.
28 Feb.'15 18:44
UNM Plans Protest Rally to Demand Govt Resignation
UNM has called for a protest rally in Tbilisi center on March 21.
28 Feb.'15 16:25
GD Boycott Thwarts Parliament Special Session, Sought by UNM
UNM wanted debates on economy; GD MPs rejected it as UNM’s attempt to “stage a show.”
28 Feb.'15 14:07
Tbilisi Condemns Murder of Nemtsov
Nemtsov’s death is “a loss for the Russian people and their better future,” parliament speaker said.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
62