Economy, Business And Markets

Privatization of 5 Trillion Shares Planned by March

Privatization of 5 Trillion Shares Planned by MarchPrivatization of 5 Trillion Shares Planned by March

Iran Privatization Organization plans to sell 5 trillion shares in public companies to the private sector during the remaining two months of the current fiscal year (Jan. 21-March 20), the chairman of the organization said.

The shares include those in Moghan Agro, Industry & Livestock Company and Pars Agricultural Inc., as well as a number of insurance companies and power plants.

“The volume of privatizations in these two months will be more than that in the preceding 10 months combined,” Mir-Ali Ashraf-Pouri was also quoted as saying by Tasnim News Agency.

The government sold 4.54 trillion rials ($98.27 million) worth of public companies’ shares to the private sector in the 10 months since the beginning of the current fiscal year (March 21-Jan. 20), Mehr News Agency reported.

About 3.95 trillion ($86.3 million) of the total figure were sold via tenders, while 102 billion rials ($2.28 million) were privatized on the capital market.

Iranian Privatization Organization listed 337 public companies for their shares to be transferred in the current Iranian year, out of which the ownership of 230 public entities was to be fully transferred to private owners. The remaining 107 public enterprises were to see 80% of their shares transferred while 20% were to remain in the hands of the state.

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