Jun 09 2009 |
more articles from
|
Bank Saderat Going Public
State-run Bank Saderat is offering 6 percent of its shares to private investors today in line with the country's privatization policies.Saderat will be the third state bank to be privatized under Article 44 of Iran's Constitution.
In May, Bank Tejarat sold 6 percent of its shares--worth 754 billion rials ($76.4 million)--three months after Bank Mellat offered 5 percent of its stake on the market, IRNA reported.
"With the entry of Bank Saderat into public trading, the share of the private sector in the capital and investment market will pass 50 percent," said Economy Minister Shamseddin Hosseini.
He noted that the bank has a 14.8-percent share of Iran's banking market and will become second largest company on the stock exchange after its transition is complete. He did not say at what price the shares would be offered.
Banks Saderat has 3,300 branches in Iran and 30 abroad, and owns four banks abroad, including Bank Saderat Tashkent (in Uzbekistan), Arian Bank (in Afghanistan), Future Bank (in Bahrain), and Bank Saderat PLC (in Britain)
There are 30 branches of Bank Saderat across Europe and Asia.
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment