Iran's biggest ever bourse deal

September 28, 2009 - 0:0

TEHRAN – A 50-percent block plus a single share of the Telecommunication Company of Iran worth 77.985 trillion rials (some $7.8 billion) was offered on the stock market on Sunday as the biggest ever transaction deal made in the country.

Mobin is a consortium of three privately owned firms which has won the tender for the TCI deal, the managing director of the Securities and Exchange Organization of Iran said.
Hassan Qalibaf-Asl added the winner should remit the price of 20 percent of the shares ($1.5 billion) within 30 days to make the deal effective, the Mehr News Agency reported.
These shares were supposed to be sold on September 16 but the date was changed due to technical problems.
According to the Fourth Five-Year Economic Development Plan (2005-2010), the Privatization Organization of Iran affiliated to the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the stock market.
In 2007, Supreme Leader Ayatollah Ali Khamenei requested that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards privatization