Georgian Oil and Gas Corporation's shares to be put on open auction

The Georgian government begins the registration process of the shares of the state-owned enterprises. A 25 percent stake will be placed on international exchanges later, Georgian Minister of Energy and Natural Resources Alexander Khetaguri told media.

He said that it will provide the private sector with the opportunity to attract capital.

"We will also know the cost of a company," minister said.

Khetaguri said that the Georgian Oil and Gas Corporation will be among those companies. He also did not rule out that the shares of the main gas pipeline "East-West" will be sold.

"This gas pipeline is owned by the corporation," he said. There is nothing strange if its shares are placed at auction."

Georgian Prime Minister Nika Gilauri said that the shares of "Georgian Railway" and "Georgian Electrical System" will be put on the international stock markets in London, New York and Warsaw.

The Georgian Oil and Gas Corporation will join them. About 25 percent will be put up for auction, he said.


/Trend/