Gov’t to Offer Residue Shares in Three Banks

The government plans to sell its remaining stake in three banks and an agro company in blocks of shares.
Bank Saderat Iran, Bank Mellat and Tejarat Bank are three semi-private lenders that the government wants to fully divest.
Last year, the government tried but failed to sell its full stake in the three banks through an exchange-traded fund.
According to separate offer notices seen on the website of Iranian Privatization Organization, the total shares on offer are worth 210 trillion rials ($840 million), half of which are government shares in Bank Mellat alone.