42.5 % of the shares of “Persian Asan Pardakht” were sold with the “APP” symbol. Specifications indicate the Shahr Bank as a potential buyer.
According to Ideaagency, the two main shareholders of “APP”, “Mehdi Shahidi” and “Hamed Mansouri” intend to sell all their shares. The base price per share is 1233 USD, but the highest proposed price will be the base. Accordingly, the buyer will have to pay at least $88M for this block deal.
The release date of this block is on Wednesday, February 19, 2025 and will be released through the city brokerage.
Atie welfare and provision fund and Novin High Tech Solusion Company, The IT arm of Keshavarzi Bank, are other APP’s shareholders each holding 18 % of the company’s shares.
Conditions for conducting major APP share transactions
As stated in the announcement of the bulk supply of shares (controlling) of APP, the conditions for the transfer of shares are in two ways: either lump sum and cash or conditions. For a cash purchase, the buyer is obliged to pay the total amount of the transaction within a maximum of 2 working days from the date of determining the winner of the competition.
Conditions for cash and installments are also such that the buyer must pay 10 % of the total value of the transaction in cash and within a maximum of 14 business days from the date of the winner. 90 % of the value of the transaction must also be paid in three equal installments at 23 % annual interest rates, one month. The date of the first installment is one month after the trading of the stock exchange.
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