Economy, Business And Markets

Block Sale of Investment Firm on April 11

Block Sale of Investment Firm  on April 11Block Sale of Investment Firm  on April 11

Atieh Damavand Investment Company is planning to sell an 8% stake in Insurance Industry Investment Company worth over 180 billion rials ($3.6 million) on April 11. 
The block share is made up of 60 million shares and will be offered at a base price of 3,015 rials (about 6 cents) per share on Tehran Stock Exchange. 
Bank of Industry & Mine Brokerage is set to oversee the sale, Bourse Press reported. With a market cap of $40.4 million, “BIME” was being traded at 2,700 rials per share on Saturday to record a 0.88% drop. Atieh Damavand currently owns 10% of IIICO’s 750 million shares at TSE.


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.

Add new comment