The Civil Servants Pension Fund is planning to cede either portions of its shares or total ownership in 99 of its subsidiaries, most of which are underperforming and bleeding cash.
“In line with the government’s policies to give up business ownership and moving toward shareholding, a number of the fund’s subsidiary companies will soon be sold at Tehran Stock Exchange and Iran Fara Bourse,” said CSPF’s Director Jamshid Taqizadeh on Thursday.
According to the official, 67 of the companies that are making losses will be prioritized for giving up their total ownership, CSPF reported on its website.
August 18, 2018 18:46
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Civil Servants Pension Fund Planning to Downsize
Disparity between companies’ lower-than-expected earnings and the fund’s financial commitments has obliged it to let go of underperforming shares and look for other financing methods, such as the capital market
Most of Iran’s 24 pension funds, in one way or another, are struggling to keep their heads above water due to low support ratio, early retirement and underperforming assets
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