Economy, Business And Markets
0

IPO: Biggest Government Privatization Bid Flops

The total value of public assets put up for sale was 90 trillion rials (about $2 billion), but only 560.3 billion rials ($11.6 million) of which were bought by private bidders
Biggest Government  Privatization Bid Flops Biggest Government  Privatization Bid Flops
Years of state control over the economy have made the private sector take a backseat and incapable of taking bold risks for rejuvenating floundering businesses

Iran’s largest privatization attempt in the current fiscal year (started March 21, 2017) kicked off on March 12 with less than a percent of the offered assets finding buyers.
According to Jafar Sobhani, an advisor to the head of Iranian Privatization Organization, the total value of public assets put up for sale was 90 trillion rials (about $2 billion).
This is while only 560.3 billion rials ($11.6 million) of the assets were bought by private bidders, IRNA reported.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com