Iran seeks $12.5 bln through privatisation

* username: rupertbu

Iran aims to raise about $12.5 billion by privatising more than 500 state firms during the 2010-11 year, including two refineries and two car makers, a senior official said in remarks published on Sunday.

Mehdi Aqdaie, deputy director of Iran's Privatisation Organization, said the Bandar Abbas and Abadan refineries would be among the first companies offered for sale on the Tehran Stock Exchange.

Quoted by the Iran daily, he did not give details on the size of the stakes Iran wanted to sell and how much ownership the state would retain.