Block Sale of Investment Firm on April 11
EghtesadOnline: Atieh Damavand Investment Company is planning to sell an 8% stake in Insurance Industry Investment Company worth over 180 billion rials ($3.6 million) on April 11.
The block share is made up of 60 million shares and will be offered at a base price of 3,015 rials (about 6 cents) per share on Tehran Stock Exchange.
Bank of Industry & Mine Brokerage is set to oversee the sale, Bourse Press reported. With a market cap of $40.4 million, “BIME” was being traded at 2,700 rials per share on Saturday to record a 0.88% drop. Atieh Damavand currently owns 10% of IIICO’s 750 million shares at TSE, Financial Tribune reported.
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