A Quarter of Merging Banks’ Shares Sold

About 300,000 shareholders of merged banks affiliated to the armed forces have sold their shares since the merger process started in April, says the chief of Securities and Exchange Organization.  
Shapour Mohammadi said after the merger process got underway in April, the SEO offered opportunities for shareholders to sell shares at stock market in after-hours trading.
“If the price of their shares drops 1,000 rials per share, the shareholders can sell their shares either at the nominal price or at prices quoted at the time symbols are frozen,” he was quoted as saying by IRIB news agency.