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  Iran's State Owned Co's Sell Off 50% of Shares Over Past 2 Years

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Author Topic:   Iran's State Owned Co's Sell Off 50% of Shares Over Past 2 Years
Vatandoost
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posted January 31, 2001 10:09     Click Here to See the Profile for Vatandoost   Click Here to Email Vatandoost     Edit/Delete Message   Reply w/Quote
TEHRAN, Jan 15 Asia Pulse - Over 50 percent of shares in Iran's state-owned companies have been sold to the public over the past two years, said Expansion of Industrial Ownership Company official Mehdi Ali-Akbar. He added that in the first three quarters of the current Iranian year started March 20, shares worth rls 1.2 trillion (US$685.71 million) have been ceded to the public, compared to rls 6.1 trillion in the past 10 years. Of this figure, rls 4.47 trillion have been transferred to the public through the stock market, he stated.

He also added that the organization will continue to function under `Iran privatization organization' as of next Iranian year which begins in March.

Ali-Akbar remarked that the current environment is positive for speeding up the privatization trend. He said a seminar is to be held in Tehran entitled 'Prospects of Privatization in Iran'.

He added that the seminar will feature speakers, including the economy and finance minister, German ambassador to Iran, other German officials of the 'Technical Assistance Orgnaization' and several Iranian MPs.

The participants will present their views on the privatization plan.

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