Iranian Privatization Org. (IPO) will offer 16.41% block of shares of Tabriz Oil Refining Co. (TBZ) in cash and installment payments via Bourse on 21st of July 2020, reported the Bourse Press News Website.
The block of shares of TBZ, which belongs to National Iranian Oil Refining and Distribution Co. (NIORDC), includes 1,641,123, 456 shares of this company at the whole base price of Rls 48,464 Bln. The 50% of the whole price should be paid in cash, and the rest through an 18-month installment.
The other main shareholders of TBZ are Parsian Oil & Gas Development Group (POGDC) with 48.57% of the shares, Justice Shares with 20%, Hamoon Sepahan Investment Co. with 2.92%, Hamoon Sepahan Management Services Co. with 0.18% and other shareholders with 8.33% of the shares of this company.
Iran’s government was supposed to offer its entire remaining shares in Isfahan, Tehran, Tabriz and Bandar Abbas oil refineries through exchange tradable fund (ETF); however, according to the ISNA, the government has recently decided to offer just the shares of Isfahan and Tehran oil refineries through ETF and the other two on shares’ block basis.