On 18 and 21 Feb 2009, In compliance with the privatization scheme, 5 percent of equity shares of state-owned Bank Mellat (Equivalent of 656 million shares of company) first time after listing, was offered by the government on Tehran Stock Exchange at the price of $ 0.12 per share with the total value of $78.7 million. This IPO exercise would be continued; another 10 percent of Bank Mellat is going to be offered by government in coming months.
Bank Mellat was established on 1979/12/20 by virtue of the resolution dated 1979/9/29 adopted by the General Assembly of Banks and pursuant to the provision of article 17 of the Bill on administering the Banks, with a paid up capital of Rls 33.5 bn as a merger of ten nationalized banks.
Currently, the bank's capital amounts to Rls 13,100 bn and is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.
At the present time it is active enjoying more than 1800 branches all over Iran and other branches in Istanbul, Izmir, Ankara in Turkey, Seoul in South Korea, Yerevan in Armenia, London and Dubai (Persia Bank) and a percentage of the Share of Europaisch-Iranische Handelsbank.
You can go here for getting more information about bank Mellat.
