MIDDLE EAST: Iran's drilling company on sale February 20

Iran's North Drilling Company Managing Director Asghar Rafiei announced that the selling of the NDC shares would start in Tehran Stock Exchange (TSE) as of February 20.

The NDC chief told PIN that the company was among the
privatization-bound centers and it was trying to have a strong presence in the TSE.

"Everything is ready for ceding the company to the private sector and we are waiting for calculation of its capital by responsible officials," he added.

The National Iranian Oil Company's (NIOC) Article 44 Headquarters said early December the shares of four giant oil companies would be offered by high tender in the TSE in the near future.

Ali Kardor added that Petropars Company, Petroiran Company, South Engineering Services and Turbine Industrial Equipment Company, and North Drilling Company are the privatization-bound corporations.

Iranian Privatization Organization (IPO) is mulling over the shares' prices. According to the Fourth Five-Year Economic Development Plan (2005-2010).

Via: Islamic Republic News Agency

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