Bank Eqtesad Novin Announces Auctions to Sell Its Entire Investment Subsidiary and Part of Its Brokerage

Bank Eqtesad Novin (ticker NOVN) said in two Codal disclosures published on Tuesday 13 October 2026 (21 Mehr 1405) that it intends to auction shares in two subsidiaries. In the first, the bank plans to offer 1,750,000,000 shares, or 100 percent, of Eqtesad Novin Investment and Capital Management in one block for cash.

Under the second filing, 399,980,000 shares, or 40 percent, of Bank Eqtesad Novin Brokerage are for sale. The proposed terms for this block are 60 percent cash and the remainder over three years in 12 equal instalments. Both filings give the auction date as 25 October 2026 (3 Aban 1405). The bank links the sales to statutory asset divestment requirements.

These are auction announcements, not reports of a completed sale, winning bid or final profit effect. NOVN shares stood at 4,030 rials at 11:31 on Wednesday 14 October 2026 (22 Mehr 1405), down 2.89 percent from the previous session.