Economy, Domestic Economy
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Shasta Mulls Selling 16% Stake in Oil, Petrochemical Subsidiary

Shasta Mulls Selling 16% Stake in Oil, Petrochemical SubsidiaryShasta Mulls Selling 16% Stake in Oil, Petrochemical Subsidiary

Iran’s largest holding, Social Security Investment Company has announced plans for privatizing its subsidiaries.
SSIC, also known by its Persian acronym Shasta, says it will sell a 16% stake in Tamin Petroleum and Petrochemical Investment Company on August 15.
The Tehran Stock Exchange-listed TAPPICO is the exchange’s largest company with a nominal capital tag of 81.5 trillion rials ($1.82 billion), Bourse Press reported.
The sale will include 13.4 billion shares with a base price of 2,600 rials each. Shasta is asking for the entire amount in cash and is being advised on the sale by Saba Brokerage.

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