Bid to be held on Jan. 8 for divesting $452m of state-owned shares

December 30, 2017

TERHRAN- Iranian Privatization Organization (IPO) is to transfer 19 trillion rials (about $452 million) worth of the state-run shares to the private sector on January 8, 2018, IRNA reported on Friday.

According to IPO’s Spokesman Ja’far Sobhani, the offered shares belong to 25 state-run companies.

The Iranian government has envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the state-owned firms each year.

Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized.



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