Eleven firms will be offered in shares and the rest will be sold through the bids, he indicated, stipulating, “Whether or not some companies lend themselves to privatization process in accordance with Article 44, the government is going to see to the matter.”
Industrial Development and Renovation Organization (IDRO), assessed with high share value, ‘is not for sale now’. Nevertheless, the Majlis (parliament) may infer from its Articles of Association that ‘it is fit’ for stock market. Iralco, I. R. of Iran Shipping Lines and Mobarakeh Steel Mill are ready to be shared out and only the methods of sharing are still under consideration.
General course of privatizing state-owned firms and organizations are based on the initial sale of five percent of the total through the plan of entrusting Edalat or Justice Shares. An index price will then be formed and the rest will be determined according to supply and demand indices, the official elaborated.
ML/MA
END
MNA
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