9/23/2010

Turkey’s national oil company to go public in 2011

Today’s Zaman - The General Director of Turkish Petroleum Corporation (TPAO), Mehmet Uysal, said once the state-owned company's shares are traded on the stock exchange, it will contribute to Turkey's economy as much as the national flag carrier, Turkish Airlines (THY), does.

"Once the public offering is held, we will help Turkey fly like THY does", he said in an interview with the press. Turkey’s Energy and Natural Resources Minister, Taner Yildiz, announced on Tuesday that his ministry is currently undertaking preparations for TPAO's initial public offering (IPO) on the Istanbul Stock Exchange (ISE) next year. Referring to Yildiz's announcement, Uysal said the news "highly excited" them, adding that TPAO will gain great opportunities for oil and natural gas exploration inside and outside of Turkey, once its shares start to be bought and sold on ISE.
turkey; tpao; oil company; stock exchange; imkb; taner yildiz; public offering; ipo; ise

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