TSE to Host Block Trade on Aug. 18

EghtesadOnline: Sina Food Industries Development Holding Company is set to put up a block share in its subsidiary Glucosan Company for sale on Tehran Stock Exchange on August 18 for the third time.

News ID: ۷۸۳۵۴۸

05 August 2018

The block is made up of 102,268 million shares in “GCOZ” amounting to 51% of all shares with a base price of 17,228 rials (about 40 cents) per share. Sina Food is seeking 30% of the total figure in cash and the rest in installments.

The buyer is required to offer a post-purchase business plan and hold on to the shares for at least two years after the buy, reads the holding company’s sale announcement on Codal.ir.

The controlling share did not attract any bidders during the last two offerings on July 11 and 29, according to Financial Tribune.

Glucosan was the market’s most expensive share in the last fiscal year (March 2017-18) with each share priced at 41,500 rials (about 94 cents), Bourse Press reported.