Gov't to Offer Shares in Petrochem, Steel Majors

The government will sell some of its shares in the Persian Gulf Petrochemical Industries Company (PGPIC) and Sabzevar Pars Steel Complex, the Iranian Privatization Organization said.
The block sale, including 12% of government shares in PGPIC and 7.13% in Sabzevar Pars Steel Complex, will be held on Oct. 29 at the Tehran Stock Exchange, the IPO website said. 
It said 58.740 billion shares of the petrochemical giant worth 820.5 trillion rials ($2.58 billion) will be offered and buyers can make 70% of the payment in 6-month installments over  four years by first paying 30%.