On September 14, 2011 was held the meeting of the Georgian Government. The agenda included 81 items.
Before the meeting started, the Prime Minister of Georgia, Nika Gilauri, made a statement with respect to placing shares of Georgian state companies on international exchanges.
We present the Prime Minister's speech:
"Many comments have been made and many questions have been asked about placing shares of Georgian state companies on international exchanges, during the last days.
I would like to repeat the government's opinion once more. The Government of Georgia not going to alienate controlling stock of these companies neither at present, nor in the future.
Our aim is to place minority interests, 20, 25, 30% of strategic companies on international exchanges. More than 49% shall be placed in no case.
51% or more of these companies shall remain in possession of Georgian state. Georgian state shall maintain opportunity and right to manage these companies and make main decisions.
Our aim is to attract additional hundredth of millionth of dollars investments by means of these transactions in Georgia.
If all transactions are implemented during the nearest months, investments of more than half a million dollars will be attracted. This will create additional jobs and give opportunity to carry out additional projects.
This is about additional economic growth. This is our aim.
This is an ordinary transaction, an ordinary operation which has been implemented by all developed and developing countries. Minority interests of such strategic stocks of almost all countries are placed on international exchanges.
We observe conditions on exchanges. Of course, the condition is not enviable at present. We are not announcing specific dates but we will place the socks on international exchanges at the best moment.
Hired best international investment banks are helping us to make decisions. We have a very good experience to issue securities.
According to international experts, one of the best transactions of the year on the world exchanges was the issue of Georgian Eurobonds on London exchange.
We know what we do and we are sure that we will attract additional investment of hundredth of millionth of dollars in our country during the nearest months."
Prime Minister Press-Service