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Sunday, May 5, 2024 14:41 GMT
In line with the emphasis of the Supreme Leader and the policies of the thirteenth government regarding the withdrawal of banks from owning business, Bank Melli Iran divested 51.32% of shares of Shazand Petrochemical Company.According to BMI public relations, 51.32% of shares of Shazand Petrochemical Company, valued at IRR 250 trillion (US$378.7 million), were transferred through a transparent cash transaction within the framework of Tehran Stock Exchange regulations to a qualified buyer.This transfer is an important step in the country's banking network towards divestment, reducing banks' monopoly, and implementing resistance economy policies.It is to be said that Tehran Oil Refinery Company, trading under the symbol Shetaran on the stock exchange, in which 70% of its ownership belongs to Edalat Shares (Justice Shares), has taken steps to purchase shares of Bank Melli Iran in Shazand Petrochemical Company. As a result, 47 million shareholders of Edalat Shares will benefit from the divestment of Shazand Petrochemical Company. - Tehran Times