Sale of the government share in Fars, three times the price of the board!
The head of the privatization organization said: We sold the 12% block of Fars three times the price of the board in a breathtaking competition to a qualified buyer, while the capital market was not harmed from this auction.
According to the public relations report of the Privatization Organization, Hossein Gurbanzadeh, the head of the Privatization Organization, said about the largest auction in the history of Iran: This auction was not only unprecedented in terms of transaction value, but also for the first 12% block, which is even in the stock exchange circular and international standard. KPMG is also not considered a board seat, it was sold for three times the price of the board!
He added: "There is no record that 200% additional block value is considered for a 12% block!" On the Wednesday before the auction, the price of each share of Fars was 611 Tomans on the stock exchange board, and on the last day of the auction, the final price of the government's share sold was 1851 Tomans, that is, more than three times!
The Deputy Minister of Economy further added: In 2019, the government financed about 35 thousand billion tomans by inviting people to invest in the stock market, but now everyone is complaining that such a public invitation should not have been made and that there are better ways for people to invest. There was in the capital market. But this year, the privatization organization provided the government with the same amount of income as in 2019 with a block auction, without harming the capital market, and another 27 thousand billion tomans annually in the next four years from this auction, for the settlement of installments. will earn money.
Gurbanzadeh clarified: Another point is that there was never any formal competition in this historic auction, and by the way, it was very narrow and breathtaking, and through this full-scale competition in three consecutive days, more than 27 thousand billion tomans increased compared to the total base price. The goals company affiliated to the oil pension fund and the Tehran oil refinery company completed a unique rally in three days, and finally the goals company was the winner of this competition.
The General Director of the Privatization Organization added: "There is nothing to say about the buyer's competence and qualifications, because this company itself is a shareholder of Persian Gulf Holding, and basically all of its experience and expertise has been in this industry, and it has a very valuable portfolio in this industry." . In addition, the eligibility monitoring working group composed of representatives of the delegation board, regulatory institutions and specialized agencies have also confirmed the buyer's eligibility.
He stated: This financing was done considering the price, the capital market situation and the qualification of the buyer, while the government needed this sale very much, and this non-inflationary financing prevents borrowing from the central bank and increasing the monetary base. .
Regarding concerns about the suspension of the company's development plans and the fulfillment of the company's governance duties, Gurbanzadeh said: Since 2012, when this company was handed over, the company's profitability and development have increased. Article 44 policies require the government to play a regulatory role and abandon tenure. In this field as well, the government must be able to fulfill its sovereign duties through the means of establishing rules and regulations. This issue has also been approved by the economic headquarters of the government.