IPO Tender Fails to Attract Buyers

Iranian Privatization Organization’s first tender of the current fiscal year (started March 21) failed to attract any buyers, an advisor to the head of IPO said. “The tender process failed to start, as no buyers had signed up. Holding it again depends on the decision of the company’s shareholders,” Jafar Sobhani was also quoted as saying by IRNA. The tender included a 95% stake in East Alborz Coal Mining Company including 319 million shares each priced at 1,566 rials, a 33.54% stake in Iran Helicopter Company including 15 million shares each priced at 29,429 rials, a 94.96% stake in Mashin Sazi Lorestan including 129 million shares each priced at 447 rials, and a 37.17% stake in IDRO Landra including 7 million shares each priced at 348 rials.