Friday 5 June 2009

Iran to sell majority stake in BSI by year-end

The Iranian government is set to privatise 51 per cent of Bank Saderat Iran (BSI) by the end of 2009, BSI chairman and managing director Hamed Borhani told Gulf News.

At a road show event targeting UAE and Iranian expatriate investors late on Wednesday, Borhani said six per cent of the bank's 18.6 million shares will be offered on the Tehran Stock Exchange soon.

Larger blocks of shares will later become available to retail and institutional investors, he added.

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