NICIC Offers a pair of 20% stock blocks on Sept. 12 & 19

Monday, 10 September 2007

Two separate twenty per cent stock blocks of National Iranian Copper Industries Company (NICIC) will be offered on Tehran Stock Exchange secondary board on 12 and 19 September, 2007. TSE Public Relations reports the holding company, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) will offer two blocks of 1,157,928,920 NICIC’s stocks en bloc, in cash or as required in cash and installments at a base price of IRRs 7,400 per share. In case of any increase in the board’s price comparing to the basic quotation during the preceding day of the offering, the last day’s closing price will be considered as the stocks’ base price. Stock Exchange Organization’s board of directors authorized the brokers to register their buying orders into the trading system on the condition that three per cent of the base value of stocks are transferred from the client to the Central Stocks Depository and Settlement Company’s account or provided to Tehran SE