TEHRAN -- A 1.94-percent block of shares of the Iran Tractor Manufacturing Company will be offered on the stock market as an initial public offering scheme today.

The block of shares is consisted of 17,437,848 shares, the Islamic Republic of Iran Broadcasting reported.
According to Iran's Fourth Five-Year Economic Development Plan (2005-2010), the Iranian Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and ceding shares to the general public and on the stock market.
In 2007, Supreme Leader Ayatollah Ali Khamenei ordered government officials to speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization