82955
Alborz Insurance Company’s Controlling Stake Sold
Alborz Insurance Company’s Controlling Stake Sold
Monday, March 05, 2018

Alborz Insurance Company’s Controlling Stake Sold

Monday, March 05, 2018

Alborz Insurance Company’s Controlling Stake Sold

The government successfully sold its shares in Alborz Insurance Company on Saturday to a consortium made up of pension funds and an investment company.
A total of 693.6 million shares, constituting a 17.14% stake, were offered by Iranian Privatization Organization on behalf of the government with a base price of 1,275 rials (about 3 cents) per share, 30% of which were to be paid in cash and the rest in four-year installments.
The consortium, made up of Civil Servants Pension Fund, Agricultural, Rural and Nomadic Pension Fund, and Social Security Investment Company, purchased the stake at a rate of 1,301 rials per share and increased its total stake in Alborz Insurance Company to 51.27%. 
The two funds and SSCI already had a 33.93% stake in the insurer, Bourse 24 reported.
 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/4vVMmL
03/05/2018
  1. https://goo.gl/mxwFts
  • https://goo.gl/1HC9MG
  • https://goo.gl/Awfv9s
  • https://goo.gl/sgvFQ6
  • https://goo.gl/iiwa6o

You can also read ...

Central Bank of Iran Governor Expects Additional Forex Allocation for Imports
The central bank governor said volume of foreign currency...
Iran's Private Sector Prepares to Secure Syrian Market Entry - Report
Scores of Iranian executives running private businesses...
India Working on Rupee-Rial Mechanism for Chabahar Port Project
India is weighing a rupee-rial payment mechanism for the...
The number of trips made by Azerbaijani citizens to Iran has...
Global Export Credit Agencies Support Iran Trade Coverage - Interview
Global Export Credit Unions participating in a meeting of the...
Iran's Payam International Airport Ready for Exports
Payam International Airport, located in the city of Karaj 40...
Tehran: TEDPIX Tops 188,000 as Investors Pile Into Stocks
Tehran Stock Exchange's main gauge, TEDPIX, sailed past the...
Iranian Elevator Manufacturers Look Beyond Borders
Iran’s elevator manufacturing companies have the capacity to...

Add new comment

Trending

Googleplus