Tehran Stock Exchange: 50 percent Of Equity Shares Of Telecommunication Company of Iran (TCI) Traded

Sunday, 27 September 2009

Today, 27th September 2009, in compliance with the Privatization plan 22,936.8 million Shares of state-owned Telecommunication Company of Iran Co (Equivalent of 50 percent of outstanding shares of company) were sold through one block trading on Tehran stock exchange at a price of Rs 3,409 per share. The value of this deal totaled $7,819 million. This deal was the biggest trading in the history of Tehran Stock Exchange. The market Capitalization of TCI in Tehran Stock Exchange reached to $8.5 Billion. During these three weeks, the P/E Ratio of TCI slipped to 17. Telecommunication Company of Iran (TCI) was established in 1971 with a new organizational structure as the main responsible administration for the entire telecommunication affairs. TCI has utilized the most advanced equipment and services such as digital switching centers, optical fiber cables, mobile phones, data networks, satellite services, and telephone special services during the recent years