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Divestiture of 17.34 percent shares of Alborz Insurance Company

2018/01/23 | 16:21 code : 8744 -
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Divestiture of 17.34 percent shares of Alborz Insurance Company to take place through block trade on Tehran Stock Exchange (TSE).
Divestiture of 17.34 percent shares of Alborz Insurance Company

Divestiture of 17.34 percent shares of Alborz Insurance Company to take place through block trade on Tehran Stock Exchange (TSE).
According to public relations liaison of Iran Privatization Organization(IPO) block 17.34 percent shares of Alborz Insurance Company , equivalent to 692,666,777 number of shares will be put on sale through Tehran Stock Exchange (TSE) by IPO in the form of 30 percent cash sale and 70 percent payment in installments during a 4-year period on 5th February 2018.
Additionally, base value of each share is calculated on the basis of the closing price of the share on the day prior to the aforementioned trading day plus 20 percent, on the condition that it is not less than 1275 Rials.

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