Tehran SE offers Bank Assar to public

Monday, 29 August 2011

On 28 August 2011, trading on Bank Ansar's equity shares was started on Tehran Stock Exchange for the first time after listing. At the first day, 111.7 Million equity shares of Bank Ansar (as TSE's 10th listed bank) were traded at the price of IRR 2,650 (USD 0.25) with the total value of IRR 300 billion (USD 28.3 million). This is the second bank, publicly offering its shares in August 2011.

Shares of 7 private banks and three state banks, including Bank Saderat, Bank Mellat and Bank Tejarat, in line of privatization program, have been so far offered in the Exchange.

With regard to the price of 2,650 Rials per share, the market value of Bank Ansar reached 10,600 billion Rials that raised capitalization of TSE by one percent.

Bank Ansar which offers retail and commercial banking services was established in 2009 with 5000 employees and 600 branches in line of the government's privatization policy on banking system.

While established in 2009, the bank has been operating throughout the country since 1987 in the form of a credit institution.