Telecommunication privatized, shares sold off

2.37 billion shares of telecommunication were sold off per share pricing (EPS) 1500 rials (15 cent).
Telecommunication Company of Iran shares were sold off at retail sum of 3.439,5 trillion rials (365 million dollars).
It will be sold off in blocks (wholesale) if telecommunication shares if there is demad for it in the upcoming sale.
After telecommunication got quoted in bourse it added 6.889,5 trillion rials (732 million dollars) to the value of trade in the stock exchange market.
Privatization Organization managers believe that telecommunication share price was appropriate on the first day of quoting in the bourse. They predicted that its price will increase in the coming week.
According to the new privatization law 80 percent of state owned Telecommunication Company of Iran will be sold off in bourse under privatization law, the remaining 20 percent will be held by the government for administrative purposes.
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