IKCO, Saipa to go public
The shares of the two major Iranian carmakers, Iran Khodro Company (IKCO) and Saipa, are to be offered to the public June 21 and 22, respectively.
An 18-percent block of shares of the Iran Khodro Company will be offered on the stock market today. The block of shares equals 1,134 million shares, ISNA news agency reported.
An 18-percent block of shares of Saipa will also be offered tomorrow. The block of shares equals 1,872 million shares.
In 2007, Supreme Leader Ayatollah Khamenei ordered that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.
According to the Fourth Five-Year Socio-Economic Development Plan (2005-2010), the Iran Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is responsible for setting prices and offering shares of state-run companies on the privatization list to the general public.