Tejarat Bank to Sell Steel, Petrochem Shares
Tejarat Bank is gearing up for block sales of three large-cap steel and petrochemical subsidiary companies listed at Tehran Stock Exchange on Feb. 10, TSE’s website reported on Tuesday.
The first sale includes a 2.75% stake in Iran’s largest flat steel producer, Mobarakeh Steel Company, amounting to 2.06 billion shares at a base price of 3,240 rials (7 cents) per share. The total of 6.69 trillion rials ($148.73 million) is to be paid in cash. Tejarat is also letting go of a 1.76% block share in Shiraz Petrochemical Company. The 89.94 million shares are priced at 3,066 rials (about 7 cents) each, bringing the total sale value to 275.7 billion rials ($6.12 million). A 1.17% stake in Pardis Petrochemical Company is also on the table. The base price is set at 8,818 rials (about 20 cents) for each of the 70.55 million shares, with the total sale value reaching 622.12 billion rials ($13.82 million). Established in 1979, Tejarat is the sixth largest commercial bank in Iran. The private lender has an international branch in Paris, London, Hamburg, Beijing, Dushanbe and Dubai.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
