Iran Gov’t to Sell Stakes in Six Refineries

The government’s remaining stakes in six refineries is to be offered via a monolithic exchange-traded fund, according to a decision by an ad hoc committee in charge of divesting government property. 
Accordingly, a new ETF, dubbed as “Iranian Refinery Industry Investment Fund” will be created to offer the residue of government shares in six refineries. 
The refineries on sale include a 20% stakes in Tehran Oil Refining Company, Lavan Oil Refining Company, Shiraz Oil Refinery Company, Isfahan Oil Refinery, Tabriz Oil Refinery Company, Bandar Abbas Oil Refining Company, Fars news agency reported.
This comes after earlier government schemes tried but failed to offer its remaining shares via Tehran Stock Exchange and the over-the-counter market Iran Fara Bourse.