What is the important event of the stock market next week?
According to Tejarat News, it was the first day of winter when the Privatization Organization announced the approval of the largest transfer in the history of the stock exchange and announced the remaining supply of government shares in the Persian Gulf Petrochemical Holding in mid-December. Persian Gulf Petrochemical Holding accounts for about 40% of the country’s petrochemical industry and exported more than $ 3 billion last year. Yesterday, the Privatization Organization held a press conference in this regard and explained the process of this large scholarship transfer. “Part of the shares of the Persian Gulf Petrochemical Holding, which is owned by the government, has been included in the list of divestitures and is to be offered in three blocks of one, two and 15% in the stock market,” Hossein Ghorbanzadeh, head of the Privatization Organization, told a news conference.
Referring to the size of the Persian Gulf Holding in terms of the number of subsidiaries, he said: “Various meetings were held with the Minister of Economy and the First Vice President on the transfer of the Persian Gulf Holding. “Also, the issue of the transfer of state-owned companies, including the Persian Gulf Holding, was examined and licensed at the government’s economic headquarters, headed by the president.”
The Deputy Minister of Economy added: “Two blocks of one and two percent of the shares of the Persian Gulf Holding in cash and its one percent share without surplus value and two blocks with two percent surplus value, Saturday and Sunday next week (January 11th and 12th) in the market Capital is offered. “Also, the share of the government’s 15% block with 30% surplus value will be offered to the applicants based on the base price, which will be determined from the daily rate of the capital market board.”
The value of Fars shares in the stock exchange is currently about 320 billion tomans. “If this deal is formed, it will be the largest IPO of the Privatization Organization in terms of Rial value.” He had previously said: “The 15% block of the Persian Gulf Petrochemical Holding, although uncontrollable, is considered managerial and, therefore, 30% will be added to the base price.
The organization is also required to determine the base price for the shares of listed companies, the price of the board on the day of offering, provided that it is not less than the price of the board on the day of approval of the transfer board. “This condition is also due to the fact that no action will be taken after the transfer board approves it with the aim of reducing the base price.” According to the announcement published on the website of the Privatization Organization, the release date of the 15% block of the Persian Gulf Petrochemical Industries has been announced on Wednesday, January 6th.
The head of the Privatization Organization, 40% of the shareholders of the Persian Gulf Holding, called the holders of justice shares and said: “We hope that the transfer of this part of the government shares will increase the efficiency of the company. “Persian Gulf Holding, despite the sanctions, has had more than 100% of its foreign exchange liabilities.”
According to the information contained in the website of the Privatization Organization, the total number of transferable shares of the 1% block that is to be offered on 11 December has been announced as 2 billion and 870 million shares and the base price of each share is 9960 Rials. Thus, the base value of the total transferable shares in this block will be 28,585 billion and 200 million rials. The total number of transferable shares of the 1% block that is to be offered on 12 December has been announced as 5 billion and 740 million shares and the base price of each share is 10460 Rials. Thus, the base value of the total transferable shares in this block will be 60,000, 40 billion and 400 million rials.
Source: the world of economy
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