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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