Economy, Business And Markets

Trading of Parsian Shares Halted

Trading of Parsian Shares Halted Trading of Parsian Shares Halted

 Trading of Parsian Bank’s shares was halted at the stock market on Wednesday due to the revision of earnings per share forecasts. According to Bourse Press, the lender’s symbol, Vpars, stopped trading so it could revise its earning down 20%. The drop is the result of a decrease in divided income of the bank with 1.584 shares in the market. Parsian’s shares have dropped 24% from 2,360 rials ($0.071 at market exchange rate) on March 28 to 1781 rials ($0.053) on Wednesday. Trading will resume after the release of new reports by the Tehran-based lender in the coming days. Its annual general meeting is also close. Parsian is a major Iranian private bank, founded in February 2002 as a nongovernmental bank. The lender now has 288 branches across Iran, 159 of which are in Tehran. The bank entered Tehran Stock Exchange in 2004. In addition to traditional banking services, Parsian also offers diversified services such as insurance and car rentals.