The Iranian government is carrying out the necessary preparations to put on sale a 30 percent stake in Iran's largest billet producer, Khuzestan Steel Company (Khuzestan Steel).
Although the stake will be put on sale through the Tehran Stock Exchange in one to two weeks' time, competition has already started to heat up. Thus, according to market rumors, so far several semi-governmental entities as well as private companies have expressed interest in the stake. One of the possible bidders may be local steel producer Kaavian Steel.
As for amount of the starting bid, it is currently estimated at the level of $1.5 billion, and is expected to rise further as the time of the sale approaches.