BAKU, Azerbaijan, October 31. Iran's Persian Gulf Petrochemical Industries Holding sold 12 percent of its shares to private companies in an auction for about 1.09 quadrillion rials (about $25.9 billion), on October 31, Trend reports referring to the Iranian Privatization Organization’s information portal.
According to the report, the sale of shares of the mentioned holding is considered a record in the field of privatization in Iran.
The price of each of the company's 587,400,000 shares was 16,470 rials (about 39 cents).
Two companies of Iran's Oil Industry Pension Fund and Tehran Oil Refining Company competed in an auction for the purchase of 12 percent of the company's shares.
As reported, the net profit of Iran’s Persian Gulf Petrochemical Industries Holding increased by about 41 percent during the last financial year (June 22, 2021 through June 21, 2022), compared to the previous year (June 21, 2020 through June 21, 2021). So, the net profit of the holding for the reporting period amounted to 948 trillion rials (about $22.5 billion).
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