Khazar Cement Company to go public

Business Materials 30 December 2009 12:28 (UTC +04:00)

A 4-percent block of shares of Khazar Cement Company will be offered on the Tehran Stock Market on January 4, 2010.

The block of shares equals 8,745,744 shares, the Islamic Republic of Iran News Network reported.

According to Iran's Fourth Five-Year Economic Development Plan (2005-2010), the IPO, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and offering shares to the general public and on the stock market.

In 2007, Supreme Leader Ayatollah Ali Khamenei requested that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.