Iran's banks allowed to sell 'Justice Shares' upon client agreement
TEHRAN, Iran, May.13
Iran's Privatization Organization has allowed to sell the 'Justice Shares', via the power of attorney, Trend reports citing ILNA.
The 'Justice Shares' was the byproduct of government privatization plan, with each share worth 10 million rials (about $238). According to Article 44 of the Constitution, 80 percent of public companies in Iran were to be transferred to public ownership.
Some 40 percent of the shares of privatized public assets would be offered for privatization through the Tehran Stock Exchange, according to earlier reports.
The Iranian government has announced recently that owners of the 'Justice Shares' can sell their shares on the stock market individually or via specific investment agency. It's not allowed to transfer the shares to intermediary dealers.
The 'Justice Shares' owners can choose one of the banks to sell their shares by providing a written authorization.