Block Sale of 7 State-Owned Firms on Dec. 25

The Iranian Privatization Organization is planning to put up the shares of seven state-owned enterprises for sale on Dec. 25, IPO reported on its website.

The sale will include a 95% stake in East Alborz Coal Company valued at $450.89 billion rials ($10.7 million), 96.03% stake in Industrial Renovation Company of Iran valued at 214.63 billion rials ($5.1 million), 40% stake in Magnesium Gostar Erish Company valued at 39.91 billion rials ($950,238) and 94.96% stake in Mashinsazi Lorestan Company valued at $52.14 billion rials ($1.24 billion).

IPO will also cede 49% share of Lorestan Polyester Company valued at 8.08 billion rials ($192,547), 37.17% share of Idro Landar Industrial Group valued at 2.44 billion rials ($58,190) and 100% share of Pars Farayand Shiraz Refinery valued at 40.4 billion rials ($962,095).