Tehran, Iran, Sept.20
Trend:
Iran's Social Security Investment Company plans to offer shares of its 28 companies at the stock exchange, said managing director of the company, Mohammad Rezvanifar.
"We are inclined to offer shares to increase the profit and currently drafted the main plans to implement it. So far 10 to 15 percent of the work has progressed," said Rezvanifar, Trend reports citing ILNA.
"Today we know how many companies can be merged, closed or offer their shares at the stock exchange," he said.
"Currently the Social Security Investment Company, 26 subsidiary companies are at the merging stage. It would improve the management, reduces costs and eventually have more profits," he added.
"The shares of 28 companies will be offered at the stock exchange in the current Iranian year (started March 21,2019)," he indicated.
The official indicated that despite difficult economic situation, the company has no delayed payments, and it will offers share by October 21.