About Civil.ge
Eng | Geo | Rus
Last updated: 11:55 - 28 May.'16
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
28 May.'16 11:55
Venice Commission Opinion on Georgia’s Controversial Bill on Constitutional Court
Proposed increase of quorum is “excessive” and should be removed, CoE’s advisory body said.
28 May.'16 10:31
Gali IPRM Meetings Resume, After a Break of Four Years
Khurcha fatal shooting topped the agenda of the meeting on May 27.
27 May.'16 17:39
MPs Debate Constitutional Ban of Same-Sex Marriage
It remains unclear when, or if the bill will be put on vote.
26 May.'16 20:27
Tskhinvali Postpones Referendum on Joining Russia to 2017
Breakaway region’s leader was proposing holding of referendum this summer.
26 May.'16 17:53
Georgia Marks Independence Day
Georgian, U.S., UK troops fresh from joint drills marched in ceremony marking Independence Day.
25 May.'16 16:09
UNM Boycotts Parliament Sittings in Protest Over Kortskheli Violence
UNM MPs said they will not attend sessions unless perpetrators of attack are held accountable.
25 May.'16 12:39
Venice Commission Looking into Georgia’s Controversial Bill on Constitutional Court
Commission’s opinion is expected on Friday, Georgian President’s adviser said.
25 May.'16 11:53
Police Question Men Involved in Kortskheli Violence, But No Charges Filed
Six men involved in the attack against UNM leaders were questioned without being charged.
25 May.'16 09:27
Kerry Congratulates Georgia on Independence Day
“We see Georgia as a leading example of democratic progress in the region,” Kerry said.
24 May.'16 15:05
Interior Minister Comments on Kortskheli Violent Incident
Police plan to ask the court to issue arrest warrants, the Interior Minister said.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
53