4% shares of Bank Mellat sold
A four-percent block of Bank Mellat's shares, equivalent to 524 million shares, were sold on the stock market, the Islamic Republic of Iran Broadcasting reported on Tuesday.
The shares were worth some $930 billion rials (some $93 million).
Bank Mellat was the first state-owned Iranian bank that offered 750 billion rials (about $77.5 million) worth of its shares in February last year.
According to Iran's Fourth Five-Year Economic Development Plan (2005-2010), the Iranian Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and ceding shares to the general public and on the stock market.
In 2007, Supreme Leader Ayatollah Ali Khamenei requested that government officials speed up implementation of the policies outlined in the amendment of Article 44, and move towards economic privatization.