Economy, Business And Markets
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State-Owned Companies Go Public

State-Owned Companies  Go PublicState-Owned Companies  Go Public

Initial Public Offerings of government-owned companies were worth more than 38 trillion rials ($1.1 billion) within the past 10 months, SENA reported. Close to 38.048 trillion rials ($1 billion) of shares have been transferred via the Iran Privatization Organization (IPO) since the beginning of the current year, which ends March 21. Of the total shares that have gone public, 450 billion rials were offered through the Tehran Stock Exchange, and 854 billion rials were sold out via Iran Fara Bourse or over-the-counter. In addition, 1 billion rials were transferred based on negotiations, and 10.7 trillion rials were sold out at auction. In addition, more than 37 trillion rials were sold out via block offerings, 228 billion rials were transferred over time, and 348 billion rials were offered to selected customers based on the IPO’s priorities. So far, up to 37 trillion rials ($1 billion) worth of governmental securities have been transferred to companies under the Category 1 of Note 2 of Article 44 of the Constitution, and 435 billion rials offered to companies under the Category 2 of Note 2 of article 44 of the constitution.

Financialtribune.com