ID :
95941
Sun, 12/20/2009 - 13:58
Auther :
Shortlink :
http://m.oananews.org//node/95941
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Iran's Asia Insurance Co. to be privatized
TEHRAN, Dec. 20 (MNA) – A 10-percent block of shares of the state-run Asia Insurance Company will be offered on the stock market as an initial public offering scheme by Friday.
Securities and Exchange Organization's Deputy Director Gholamreza Khali-Arjmandi said that based on the Article 44 of the Constitution, three state-run insurance companies, namely Alborz, Asia, and Dana should be privatized.
A portion of Alborz Insurance Company, as preferential stocks, had been ceded to its personnel earlier in November.
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 requested that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.
Securities and Exchange Organization's Deputy Director Gholamreza Khali-Arjmandi said that based on the Article 44 of the Constitution, three state-run insurance companies, namely Alborz, Asia, and Dana should be privatized.
A portion of Alborz Insurance Company, as preferential stocks, had been ceded to its personnel earlier in November.
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 requested that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.
