Iran to make third attempt to sell national airline
Azerbaijan, Baku, April 7/ Trend M. Moezzi
For the third time within eight months, the Iranian Privatization Organization will attempt to sell off 55 percent of Homa, the country's national airline, for more than $1.2 billion, Fars news agency reports.
The third offering of Homa stock is scheduled for May 14. It will include more than 195 million shares as a 50 percent block plus one share and more than 19.5 million shares will be sold as preferred stock. Two previous offerings in September and January failed.
While Homa's nominal value is a little more than $318 million, its "brand" value is estimated at more than $1.2 billion. That includes the value of the company's name and logo and licenses, concession, airport services, technical expertise and skilled manpower.
Whoever buys the block of shares in Homa will have to submit to conditions imposed by the Privatization Organization which include paying off the airline's debts.