Iran Gov’t Decides ETFs Are Ideal

The economy and oil ministries said Tuesday that they would stick with the previously announced method to divest government shares in four refineries via an exchange-traded fund and this week’s decision to offer shares only in blocks has be rescinded. 
The announcement came after disagreements between the two ministries over the divestment method rattled the stock market in the past two days and share prices took a hit. 
Stocks in Tehran moved downward in the early hours of Monday’s trade after the Iranian Privatization Organization (IPO) put a notice on its website Monday saying that the previously announced plan to sell government shares in four refineries had been put off. It spoke about a new decision based on which government shares would be offered in blocks.