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1.63% Stake in Bank Mellat  Up for Grabs
Economy, Business And Markets

1.63% Stake in Bank Mellat Up for Grabs

An institutional stakeholder in Bank Mellat is scheduled to offer a 1.63% stake in the bank in a block sale on Wednesday. Mehr 78 Group, which also owns 3.4% and 2.3% stakes in Tejarat and Saderat banks, will sell 683.9 million of “BMLT” shares on Tehran Stock Exchange priced at 1,230 rials per share, Bourse Press reported. With a market capitalization of $1.07 billion, Bank Mellat’s shares were last traded for 953 rials each. The bank’s earnings per share and P/E ratio stood at 133 rials and 7.17 respectively on Monday.

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