Public Offering of a 17.34 Percent Block of the Alborz Insurance Company in the Offing
IPO Public Relations ? A 17.34 percent block of the Alborz Insurance company shares is set to be listed on the Tehran Stock Exchange on Saturday, 13th of July. The block includes more than 639.5 million shares.
The public offering of the insurance block is at the price of the stock exchange board on the very day (which equals the closing board price the day before) combined with a 20 percent increase provided that it doesn’t fall below 1581 Rials per share. The Melli Bank Brokerage is offering the shares in cash.
The overall basic value of the 17.34 percent Alborz Insurance company block totals more than 10.96 thousand billion rials, tendered at a deposit equaling more than 109.653 billion Rials.