TEHRAN – Iran started privatization of Khuzestan Steel Company by selling 4.6 percent of its shares in line with the Article 44 of the Constitution, the Managing Director of Iranian Privatization Organization (IPO) Gholamreza Kord-Zanganeh announced here Tuesday.

He provided the possibility of increase in every share price as a reason to privatize the company in stages.
The move in early minutes of its inception was highly welcomed by people.
Kord-Zanganeh pointed to the positive steps the IPO has taken in attracting people’s confidence as well as emphasizing public and state interests at the same time.
As another motive, he pointed out selling shares in reasonable prices is far away from a jump in prices.
Kord-Zanganeh added that the remaining shares will be offered in the stock exchange soon on expectations the delivery ends up in two or three days.
Iran Power Plant Projects Management Company (MAPNA), the third company eligible to privatization, will be soon ceded to the private sector, he said