Iranian Government Sells Its Own Share on IranKhodro

Tuesday, 13 July 2010

On 28 June 2010, in compliance with the privatization scheme, a block equivalent to 18 percent, 1,134 million stocks of the state owned IranKhodro Company (the biggest car manufacturer in the Middle East) were offered by the Iran Privatization Organization on Tehran Stock Exchange at the base price of 3,000 Rial ($0.28) per share, and were sold at the price of 3,687 Rial ($0.35) per share with the total value of 13,594 Billion Rial ($1.3 billion). IranKhodro Company, also known as IKCO, is the leading Iranian automaker, with its headquarter in Tehran, was founded in 1962 by members of the Khayami family, the company’s original name was Iran National. IKCO is a public joint stock company with the objective of creation and management of factories to manufacture various types of vehicles and parts, as well as selling and exporting the products. IKCO manufactures vehicles under 11 brand names.