Iranian government to sell out its share in insurance firms
Baku, Azerbaijan, Feb. 5
By Khalid Kazimov – Trend:
Iranian government has decided to sell out its shares in four insurance firms.
Under the decision, the government share in the insurance firms of Alborz, Dana, Asia and the reinsurance company of Amin will be privatized, the Central Insurance of Iran said in a statement.
The Central Insurance of Iran said 11.44 percent of the total share of Amin reinsurance firm will be privatized through the country’s over-the-counter market, Iran Fara Bourse (IFB).
In the meantime, an additional 20-prcent share of the company will be offered on the over-the-counter market if the offered price stands above 1,432 rials.
Asia insurance firm will offer 18.84 percent of its share according to the prices on the offer day on the Tehran Stock Exchange (TSE). The company is eligible to offer another 20 percent of its share in case the price hits 1,920 rials.
Alborz insurance will offer 17.34 percent of its share through the IFB. The company will offer another 20 percent if the price reaches 1,275 rials.
The payment for the shares of companies will take place in cash and installments.