Gov’t Divested Stakes Worth $1.2 Billion: IPO

The government divested shares worth 272 trillion rials ($1.2 billion) in 16 state-owned companies in one year ending August 2019, the Iranian Privatization Organization said a report.
According to the report seen on IPO’s website, the shares were sold exclusively through the stock market “in a competitive environment”. 
The IPO said the divested amount totaled 16% of all divested government stakes since IPO’s inception in 2001.  A variety of methods were used for the divestment, namely block sale, retail sale and offering shares via exchange-traded funds. 
The government sold stakes in two companies in blocks worth 29 trillion rials ($126 million). The IPO did not mention the name of companies, but it appears that the block sale refers to  stakes in two refineries in February, namely Shiraz Oil Refining Company and Lavan Oil Refining Company.