$458m Worth of Gov’t Shares Privatized
Economy, Business And Markets

$458m Worth of Gov’t Shares Privatized

The Iranian Privatization Organization sold 219 billion rials ($6.2 million at market exchange rate) worth of government-owned stocks to non-government owners in the last Iranian month (ended March 19).
According to the Securities and Exchange Organization’s news agency SENA, this brings the total value of government shares sold to the public in the last fiscal year (ended March 19, 2016) to 15.9 trillion rials ($458.2 million).
Over 97% of the stocks were privatized in January and February, after sanctions over Iran’s nuclear energy program were lifted by world powers in exchange for limits on Tehran’s nuclear program. The revoking of sanctions sent equities soaring to 35% in the ensuing rally.
The IPO capitalized on the rally and sold off as many companies as it could. It is the government body tasked with privatizing Iran’s heavily state-owned economy.


Short URL : http://goo.gl/nHRtrf
  1. http://goo.gl/yLlrxe
  • http://goo.gl/18vUjj
  • http://goo.gl/d3mnOY
  • http://goo.gl/4vDfXk
  • http://goo.gl/xGi0hf

You can also read ...

How China Became Iran’s Coziest Trade Partner?
From bilateral trade to finance contracts and civil projects,...
The economy of the Islamic Republic of Iran has been tied to political and foreign affairs developments over the years.
This is the Financial Tribune’s last edition of the current...
Iranian Banking Sector Awaits Full JCPOA Benefits
Iran’s Deputy Foreign Minister Abbas Araqchi addressed various...
President Hassan Rouhani on Sunday spoke to reporters after the last Cabinet meeting of the current year.
President Hassan Rouhani on Sunday outlined his administration...
Iran has more than 37 billion tons of proven mineral reserves and 57 billion tons of potential reserves.
Iran exported more than 58.09 million tons of mineral products...
All-Out Growth in Interbank Market
The Central Bank of Iran has released its latest data on the...