Procedures of Selling Public Shares of Joint Ventures Companies

1. The Ministry of Investment assumes the responsibility of preparing the plans of selling public shares in joint venture companies, in addition to receiving purchase offers from investors or selling offers from public shares owners in joint ventures.
2. The Ministry takes the responsibility of selecting the delegate for sale to start taking the necessary and procedures coordinating with the concerned authorities the procedures of selling public shares.
3. The Ministry assumes the responsibility of obtaining selling delegacies from other public share owners.
4. The Company Evaluation prepared by the delegate for sale, is presented to the special committee responsible for reviewing & endorsing the valuation with a dead line of 30 days.
5. The delegate for sale is required to publish announcement for sale specifying a date for receiving the purchase offers.
6. The delegate for sale undertakes the sale transaction by responding to the published tender offer or the wiring bid.
7. The minister of investment Presenting quarterly report to cabinet of ministers.