The purpose of this paper was the analysis of share prices of the firms offered in "TSE" under the privatization program, with consideration of Theoretical and Scientific models, in order to specify the extent of comparability of these prices with the theoreticalones. The criterion used for the assesment of the comparability of the bas-price with the theoretical price is that; market price in creases should be supported by the firm's profitability. The research has been conducted en the basis of inductive & deductive analysis, with a statistical sample of 40 firms, which their stocks has been accepted and traded by the end of 1370. The results indicate that the share initial pricing of the firms is not based on the scientific grounds and has no compatibility with further market events. The present pricing mechanism, from the economic, social & accenting viewpoints, does not reflect accurate valuation of the shares.