Tehran Stock Exchange offered Bank Saderat Iran

On 9 June 2009, In compliance with the privatization scheme, 6 percent of equity shares of the state-owned Bank Saderat Iran (Equivalent of 1,008 million shares of company), first time after listing, was offered public by the government on Tehran Stock Exchange at the price of $ 0.10 per share with the total value of $103.5 million. Bank Saderat Iran was established on 1935 with a paid up capital of Rls 20 Million. Currently, the bank’s capital amounts to Rls 16,803 billion and is one of the largest commercial banks in the Islamic Republic of Iran. At the present time, the bank provides its services in more than 3300 branches all over Iran and 22 branches in Asia and Europe.