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Gov’t Sticks to Old Ways to Sell Shares in 2 Refineries

Gov’t Sticks to Old Ways to Sell Shares in 2 Refineries Gov’t Sticks to Old Ways to Sell Shares in 2 Refineries

Despite earlier reports that the government would make tweaks in procedures involved in divesting residue of its stake in state companies, a notice by the Iranian Privatization Organization says otherwise. 
IPO, the body in charge of privatizing state-owned companies, has issued notice outlining the conditions of sale of government stakes in two major refineries, namely Shiraz Oil Refining Company and Lavan Oil Refining Company. 
As per the notice, the shares will be offered in two monolithic blocks and prospective buyers are required to buy a whole block, a method tried and tested in the past that failed.  

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