Middle East Economic Survey

VOL. LII

No 8

23-Feb-2009

IRAN

Lukewarm Response To Privatization Of Bank Mellat

Private investors in Iran gave a lukewarm response on 18 February to the privatization of the first tranche of 5% of state-owned Bank Mellat, the second largest in the country. An unnamed official of the Tehran Stock Exchange (TSE), quoted by Reuters, said that investors bought 340mn, or around 52% of the 655mn shares on offer, and suggested that the price had been set too high at IR1,050...