According to ISNA, Fars Region, Mr. Qolam Reza Heidari Kord Zangeneh, the deputy of Minister of Economic Affairs and Finance and the IPO Executive Director told reporters that during the latest meeting of the IPO Board of Directors, the divesting of 30.000 billion Rials of shares of 11 companies and banks through the Justice Shares was approved. 

He added that following the yearlong efforts of the 4 Preparation Committees, the shares of four banks, including Iran Saderat Bank, Iran Mellat Bank, Iran Tejarat Bank and Refah Bank should be supplied in the Stock Exchange Market from October 2, 2007, in 10-day intervals. 

He also mentioned that with the divesting of Justice Shares, the value of the Iranian Stock Market amounted to 46 billion dollars and it is predicted that by the end of the current Iranian year (March 19, 2008) Stock Market value exceeds 70 billion dollars, rising as one of the great regional Stock Markets.

Qolam Reza Kord Zangeneh said: “We were supposed to divest 275 governmental companies during the current year, the divesting of 102 of which shall be completed by the September 22, 2007.  Other divestible companies, including 21 oil companies consisting of nine petrochemical, three refineries, 40 provincial gas companies, parts of Petro-Pars Company and the Bidboland Gas Company shall be divested during the second half of the current Iranian year.” 

Referring to the divesting of Justice Shares to 6 million villagers from the following year, IPO executive director stated that by the end of the current Iranian year, 9 million villagers belonging to the lowest decile should receive Justice Shares, which amounts to 45 percents of the rural population of the country\