75843
2 Heavyweight Firms to Be Privatized
Economy, Business And Markets

2 Heavyweight Firms to Be Privatized

Iranian Privatization Organization plans to privatize the shares of two iron ore and coal companies on Nov. 27. The sale includes a 67.92% stake in Iran Central Iron Ore Company with a total value of $999.8 million and a 99.85% share in Kerman Coal Mines Company valued at $601.4 million, Securities and Exchange News Agency reported. The IPO will undertake the offer on behalf of Iran Steel Pension Fund, which holds controlling stakes in the two companies. Potential buyers must pay 20% of the value in cash and the rest in six-month installments over four years. Iranian pension funds are in a poor financial state due to years of mismanagement and economic crisis, which has prompted them to sell off assets to keep their heads above water.

Short URL : https://goo.gl/kpjQK3
  1. https://goo.gl/15JXtY
  • https://goo.gl/tiWY54
  • https://goo.gl/mFNRFs
  • https://goo.gl/ACVfhN
  • https://goo.gl/1Ctyit

You can also read ...

Forex Rates Tumble
The Central Bank of Iran’s measures, namely to issue...
Iran to Send More Flour to Iraq via Russia Wheat Deal
Iran is negotiating a wheat import deal with Russia that would...
Gov’t Earned 150% More From Tax Than Oil Last Fiscal
The government earned 150% more from tax than from oil in the...
$660m Allocated to Modernize Irrigation Systems
The government has allocated 31.17 trillion rials ($660...
Iran’s currency had lost a quarter of its value in six months, sliding to a record low of 49,000 last week.
Governor of the Central Bank of Iran Valiollah Seif defended...
24 New Foreign Traders in Iran’s Capital Market
The Central Securities Depository of Iran issued 24 trading...
Lawmakers expressed concerns that the government is becoming increasingly dependent on raising money by issuing debt to cover widening budget deficits.
The government has issued over 300 trillion rials ($6.4...
Mineral Water Exports Hit $25m
More than 21,000 tons of mineral water worth $25 million were...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus