Türkiye intends to launch initial public offerings (IPOs) for state-owned energy companies to enhance their institutional structures, the energy minister announced late Monday.
State-owned energy companies include electric transmission company TEIAŞ, electricity producer EÜAŞ, gas grid operator BOTAŞ and oil and gas developer TPAO.
“Our aim is to make those (companies) modern and get them in a state befitting their size through public offerings that solely our citizens and small investors would benefit from,” Energy and Natural Resources Minister Alparslan Bayraktar told a parliamentary commission.
Bayraktar said the government does not plan to privatize state energy companies, meaning it will not sell stakes of those companies to a single private company or consortium.
“Those (companies) need stronger institutional structures. In this developing world order, it’s very difficult to manage them with an understanding of classical state enterprises,” he said.
Legal amendments are needed to launch IPOs for state energy companies and the government will seek Parliament’s support for the planned amendments, the minister said, without providing a timetable.
