Tehran Stock Exchange Lists Second State-Owned Bank

On 18 May 2009, in compliance with the Privatization Plan, under the article 44 of the Iranian Constitution, 6 percent of equity shares of state-owned Bank Tejarat (Equivalent of 626.1 million shares of company) first time after listing, was offered by the government on Tehran Stock Exchange at the average price of *IRR 1200 per share with the total value of IRR 754 billion. Forty percent of the Bank's shares will be also offered as the Justice Shares.

Currently, the bank's capital amounts to IRR 10.4 billion and is one of the largest commercial banks in the Islamic Republic of Iran.

Bank Tejarat is active enjoying 1976 branches all over Iran and 2 branches abroad.

For more information about bank Tejarat click here.

* (1 USD = 9,861 IRR)