PGPIC Gives Up Gov’t Shares in Three Blocks

The Iranian Privatization Organization is ceding the remaining government shares in the Persian Gulf Petrochemical Industries Company (PGPIC) in three phases to end Wednesday. 
The giant company is estimated to worth 3,500 trillion rials ($12 billion) with the government holding 18% stake.
According to notices seen on the IPO website, shares were offered in two small blocks comprising 1% and 2% of the total, respectively, on Saturday and Sunday.