IPO offers 5% shares of Saderat Bank

March 13, 2011 - 0:0

TEHRAN -- Five percent stocks of Saderat Bank have been offered in Tehran Stock Exchange by the Iran Privatization Organization on Saturday.

The five percent stocks were equal, in number, to some 840 million shares, the Mehr News Agency reported.
In June 2010, another 5 percent stocks of the bank were sold on the stock market.
The ministry of economy owns 32.97 percent shares of the bank, Justice Bonds cover 40 percent, Saderat Bank employees have 5 percent, Khadamat Darmani Insurance owns 5 percent, the private sector owns two 5 percent blocks and the rest are owned by other stockowners.
In 2007, Supreme Leader Ayatollah Ali Khamenei ordered that government officials to speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization