IPO Privatized $47m in 5-1/2 Months
Economy, Business And Markets

IPO Privatized $47m in 5-1/2 Months

The Iranian Privatization Organization has sold stocks worth 1.69 trillion rials ($47.4 million at market exchange rate) in government-owned companies five and a half months into the current Iranian fiscal year (started March 20). IPO sold most of the shares on Tehran Stock Exchange, Securities and Exchange News Agency reported. Only 64 billion rials of the shares in government companies were sold on the Iran Fara Bourse over-the-counter market while 14 billion rials worth of shares were sold through tenders. Nearly all the shares, worth 1.55 trillion rials, were sold in large chunks to institutional investors, through block offering. IPO was formed to sell the Iranian government’s vast industrial holdings, after a new interpretation of Article 44 of the Iranian Constitution was put forth by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei in 2006.

Short URL : https://goo.gl/UOQijK
  1. https://goo.gl/nsuP01
  • https://goo.gl/We8Dww
  • https://goo.gl/DXURwH
  • https://goo.gl/XHPKVR
  • https://goo.gl/WRxNYr

You can also read ...

The Meeting of Central Banks and Monetary Authorities of the OIC Member Countries was held on September 21-22 in Bodrum, Turkey. 
Governor of the Central Bank of Iran Valiollah Seif said given...
Apparel tops the list of goods smuggled into Iran.
The Ministry of Industries, Mining and Trade has introduced...
Oberbank Deal to Trigger European Finance Flow
The chief executive of Oberbank–whose bank this week became...
Petrochemical products account for the lion’s share of the export price index (46%).
The export price index snapped its two-month contraction and...
Proton Dissolves Dormant Subsidiary in Iran
Malaysian industrial group DRB-Hicom Berhad, the owner of...
SCI Puts Inflation at 8%
The goods and services Consumer Price Index in the 12-month...
VW Seeking Long-Term Cobalt Supplies in Shift to Electric Cars
Germany’s Volkswagen is moving to secure long-term supplies of...
Unwanted Mehr Housing Units to Be Repurposed
With the aim of bringing to a close the protracted and...