EDBI to offer stocks of two subsidiaries at Bourse Market

TEHRAN, Jul. 11 (MNA) – Chief Executive of Export Development Bank of Iran (EDBI) said that the bank will offer shares of two of its subsidiaries at Tehran Stock Market.

Iran-Venezuela Bi-national Bank and TAMADON Investment Bank are of the two banks, affiliated to EDBI, whose stocks will be offered at Bourse Market in the current year (started March 21, 2020).

Ali Salehabadi made the remarks in a press briefing held on Sat. on the occasion of establishment anniversary of the Export Development Bank of Iran and reiterated, “two subsidiaries of the EDBI will offer their stocks at Tehran Stock Market.”

Stocks of TAMADON Investment Bank and Iran-Venezuela Bi-National Bank, as two subsidiaries of the Export Development Bank of Iran (EDBI), will be offered at Tehran Stock Market by the yearend.

Presently, preliminary administrative steps have been taken for paneling stocks of the two aforementioned banks at Tehran Stock Exchange, he added.

With the coordination made in this regard, 25 percent of stocks of TAMADON Investment Bank will be offered at the Bourse Market by Sept. 2020, Salehabadi continued.

Elsewhere in his remarks, he pointed to Iran-Venezuela Bi-National Bank and stated, “about 17 percent stocks of the bank will be offered at Bourse Market before termination of the current year (to end March 20, 2021).”

Iran-Venezuela Bi-National Bank is an international financial institution that was founded in 2010 with an aim to develop commercial ties between Iran and Venezuela.

It started as a joint venture between two state-owned banks, Banco Industrial de Venezuela and Export Development Bank of Iran with a starting capital of $200 million offered equally by both parties.

MA/IRN83851326

News Code 160798

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