IPO Selling 7 Firms

The Iranian Privatization Organization will sell 12 trillion rials ($326 million at market exchange rate) of government-owned stocks this week, Jafar Sobhani, a consultant to the head of IPO, said. This will be the third offering of government-owned shares this year. The organization is having a hard time finding buyers, as the companies on offer are hardly attractive, IRNA reported. This time, IPO is selling stakes in seven companies, five of which will be auctioned while the remaining two, both petrochemical producers, will be sold on Iran Fara Bourse over-the-counter market.