TSE publicly offered Parsian Insurance

On 14 November 2010, 54 Million of equity shares of Parsian Insurance Co. equivalent 5 percent of total shares, (as 4th listed insurance company) was offered by the Parsian Bank as its main shareholder, on Tehran Stock Exchange at the price of IRRial 3,304 (0.31 US dollar) with the total value of IRRial 178 billion (17 $million). Retail investors bought about 87% of the offered shares and other (13%) were bought by institutional investors. Parsian Insurance Company was established on 29 March 2003 with the fully paid-in capital of IRRial 160 billion and it could receive the authorization for its insurance activities for all insurance fields from Iran Central Insurance on 19 August 2003. The company started its activity as a private insurance company on the date 19 August 2003.