A 89-percent block of shares of the state-run Shiraz Petrochemical Company will be offered on the stock market as an initial public offering scheme on Saturday.
The block of shares is equivalent to 2,284,664,569 shares, ILNA News Agency reported.
According to Iran's Fourth Five-Year Economic Development Plan (2005-2010), the Iranian Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and ceding shares to the general public and on the stock market.
In 2007, Supreme Leader Ayatollah Ali Khamenei ordered the government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.