85627
SSIC Subsidiary to Sell Stake in Mobarakeh Steel
SSIC Subsidiary to Sell Stake in Mobarakeh Steel
Tuesday, May 01, 2018

SSIC Subsidiary to Sell Stake in Mobarakeh Steel

Tuesday, May 01, 2018

SSIC Subsidiary to Sell Stake in Mobarakeh Steel

A 4.06% stake in Iran’s largest steelmaker Mobarakeh Steel Company has been scheduled to be sold by Saba Tamin Investment Company on May 5.
The sale comprises 3.04 billion shares with a base price of 2,857 rials (about 7 cents) per share and will take place on Tehran Stock Exchange’s first market. If the sale pulls through, Saba’s share in MSC will drop to about 1%.
This will be the current fiscal year’s (started March 21) second block sale of MSC’s shares, following Omid Investment Bank’s unsuccessful offering of a 1.69% stake on April 22.
Saba Tamin is a subsidiary of Social Security Organization’s investment arm, Social Security Investment Company.
Together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region and Iran’s largest steelmaker, supplying 20% of the region’s steel demand and accounting for 1% of Iran’s GDP.
 

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/Zqacmm
05/01/2018
  1. https://goo.gl/NnbExZ
  • https://goo.gl/ve6Lc4
  • https://goo.gl/9iykg7
  • https://goo.gl/qC6HpW
  • https://goo.gl/hEen4d

You can also read ...

An Iraqi peddler displays Iranian currency for sale in the capital Baghdad on Aug. 9.
Iraqi Prime Minister Haider al-Abadi has raised the level of...
Turkey to Defy US Sanctions, Maintain Trade Ties With Iran
Turkey intends to defy US President Donald Trump and continue...
CBI Delivering 2.5m Presold Gold Coins
The Central Bank of Iran has started the delivery of 2.5...
Google Rolls Back Android Messages to Old Design
On Thursday, it looked as though Google was starting to roll...
Iran Chamber of Commerce Urges FATF Compliance
Iran Chamber of Commerce, Industries, Mines and Agriculture,...
Private Housing Investments Rise
The uptrend in private sector investments in the housing...
New Foreign Exchange Policy:  Exporters’ Savior or Bane?
The new forex policy, announced last week by the Central Bank...
Hoarded Goods Worth $40m Confiscated in Tehran
Essential goods worth 3.2 trillion rials (around $40 million)...

Add new comment

Trending

Googleplus