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12-05-20
Banks in Iran to sell excess assets value at over USD23 billion
(MENAFN)
IRIB said that the banking system in Iran has offered shares in the stock market in the country valued at a total of USD1.7 billion in the earlier 1.5 months as a step in its plan to reform the banking industry in the country.
The starting big bank offering is going to announced in the upcoming week by Omid Investment Group, which as Sepah Bank subsidiary, and it is worth over USD16.6 billion.
The deputy minister of the country said that the government shares are being transfered using exchange-traded funds (ETFs) saw their worth increase to the double.
Tehran Stock Exchange (TSE), which is the leading stock exchange in the country, has listed the starting exchange-traded fund (ETF) using a series of three ETFs on the 2nd of May.
MENAFN1205202000450000ID1100152043
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