Iran starts privatization of Khuzestan Steel

Iran government has recently started privatization of Khuzestan Steel Company by selling 4.6% of its shares in line with the Article 44 of the Constitution.

Mr. Gholamreza Kord Zanganeh MD of Iranian Privatization Organization said that he provided the possibility of increase in every share price as a reason to privatize the company in stages. Mr. Zanganeh pointed to the positive steps the IPO has taken in attracting people's confidence as well as emphasizing public and state interests at the same time. He added that selling shares in reasonable prices is far away from a jump in prices.

He said that the remaining shares will be offered in the stock exchange soon on expectations the delivery ends up in two or three days. He added that Iran Power Plant Projects Management Company the third company eligible to privatization would be soon ceded to the private sector.

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