Capital Market Plans 2 Block Sales by March 20

Bank Melli Iran and Iran Khodro Diesel are planning to undertake two of the capital market’s final and sizable block sales in the current fiscal year (March 21, 2017-18).
BMI seeks to sell a 70.68% stake in its investment arm, Tosee Melli Group Investment Company, on Tehran Stock Exchange’s First Market on March 18, according to TSE’s Saturday announcement.
The sale includes 16.25 million shares with a base price of 3,701 rials (about 8 cents). At least 30% of the sale figure must be paid in cash, with the rest offered in installments.
Bank Melli is the first national Iranian bank established in 1927 on the order of the Iranian Majlis (Parliament) and since then has consistently been one of the most influential Iranian banks.