IPO Will Offer Residue Stake in Giant Petrochem Complex

The government will relinquish its remaining shares in the Persian Gulf Petrochemical Industries Company (PGPIC), head of the Iranian Privatization Organization said.
“The IPO plans to hold an auction to sell 18% of its stake in this petrochemical complex,” Hossein Qorbanzadeh said in a talk with IRNA.
PGPIC is the biggest consortium of domestic petrochemical producers. With a market capitalization of 3,010 trillion rials ($10.7 billion), it is the largest company in the Tehran Stock Exchange and the second largest in the Middle East with 60 subsidiaries.