$360m Privatized in 3 Quarters
Economy, Business And Markets

$360m Privatized in 3 Quarters

The Iranian Privatization Organization transferred the ownership of government shares worth 13.2 trillion rials ($360 million at market exchange rate) to private owners in the first three quarters of the current Iranian year (started March 21).
IPO is the government body tasked with privatizing Iran’s heavily state-owned economy.
Over 88% of the stocks were sold on Tehran Stock Exchange, Iran’s largest. A meager 2.7% were offered in the Iran Fara Bourse over-the-counter market. And 8.7% of the shares were sold via tender.
Big investors bought most of the stocks, as 87% of the equities were sold in large blocks.
The privatization wave started in 2006 as part of an amendment to Article 44 of Iran’s Constitution decreed by the Leader of Islamic Revolution Ayatolah Seyyed Ali Khamenei, aimed at decentralizing state enterprises through privatization.
Close to 370 trillion rials ($63 billion at the time) worth of stocks were privatized from 2006 to 2009. However, most of the stakes were bought by quasi-government entities, whose decision-making is controlled by the government.

Short URL : https://goo.gl/ElIjNT
  1. https://goo.gl/OV0ELw
  • https://goo.gl/EfQL5e
  • https://goo.gl/C0U2OI
  • https://goo.gl/6rQrGU
  • https://goo.gl/9fKbFA

You can also read ...

Forex ETS to Expedite Rate Unification
The Central Bank of Iran’s Exports Department has sought to...
Iran signed a $650-million contract with the world’s largest shipbuilding company Hyundai Heavy Industries Company in December for the South Korean firm to build four 14,400 TEU container ships and six 50,000 DWT product tankers.
South Korea was Iran's fourth biggest export destination (...
Relations with banks from China, the UAE and Turkey had recently hit snags.
A senior Iranian official announced that there are no...
Production of  the plug-in hybrid Polestar 1, will be launched in mid-2019.
Volvo is creating a new electric vehicle brand that aims to...
Gov’t Sends AML/CFT Amendments to Majlis
President Hassan Rouhani has presented two bills for making...
Gold Coin  Hits Record
Gold coin prices recorded multiple rallies in the past month...
100 Foreign Firms to Attend Iran Investment Forum
Some 100 companies from China, Germany, Denmark, Finland,...
Kerman Motor assembled 4,217 Hyundai cars during the first seven months of the current fiscal that ends in March 2018.
Local automaker Kerman Motor is trying to shift focus from its...