IPO to Announce Mega PGPIC Privatization Plan

The Iranian Privatization Organization has finalized plans to divest the remaining government shares in the Persian Gulf Petrochemical Industries Company (PGPIC), the IPO chief said.
Citing the outcome of a meeting of the ad hoc divestment committee, Hossein Qorbanzadeh said the IPO will officially announce terms of the divestiture in the coming days, according to shada.ir, the news agency of the Economy Ministry.
“The shares will be offered in three blocks,” he said without elaboration. “The company is a big player with several subsidiaries and controls almost 40% of the country’s petrochemical industry”.
Qorbanzadeh said the IPO has started negotiations with potential buyers and “competition for purchasing shares would be intense”.