6 major Iranian public firms to be privatized
News code :
۵۹۶۰۲۷
Iranian Privatization Organization is scheduled to transfer the shares of six public companies to the private sector in the current Iranian month (started Feb. 20).
The companies include Iran Aluminum Company, Esfahan Steel Company, Ahwaz Rolling and Pipe Mills Company and Amin Reinsurance, as well as Alborz and Asia insurance companies. Their shares will be put up for sale on the equity market and offered via tenders.
Most of the assets are underperforming and financially struggling.
The government sold 4.54 trillion rials ($98.27 million) worth of public companies’ shares to the private sector in the first 10 months of the current Iranian year (March 21-Jan. 20).
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