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2 State-Owned Firms to Be Privatized
Economy, Domestic Economy

2 State-Owned Firms to Be Privatized

The Iranian Privatization Organization is planning to put up the shares of two state-owned enterprises for sale on Tehran Stock Exchange and Iran Fara Bourse on December 4, IPO reported on its website. The first sale pertains to a 97.26% stake in Pars Soil and Water Engineering Services Development Company valued at 666 billion rials ($16.65 million). About 648 million shares will be offered with each share priced at 8,248 rials. Prospective buyers will have to pay 15% in cash and the rest in installments for six years. The second is for a 95% share in Iran Industrial Development Investment Company valued at 850 billion rials ($21.25 million). It includes 80.7 million shares each priced at 11,765 rials to be sold with 30% in cash and the rest in installments for four years.

 

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