Gov’t Tweaking Divestiture Rules

The government plans to resume offering its remaining shares in state-owned companies after making some changes governing divestiture of state properties to private firms, the economy minister said. 
Farhad Dejpasand on Wednesday said the plan to offer the government’s residue stake in six refineries will start in two weeks. 
According to Dejpasand, three new offers will be made based on an “adjusted framework” after the government failed to find buyers for shares in the stock market, IRNA reported. 
In previous offers, largely involving refineries and insurance companies, the government had offered shares in blocks of millions of dollars each and required investors to buy in blocks. The scheme apparently flopped as buyers couldn’t afford it.