Three Semnan Properties Worth 732 Billion Rials Swapped to Settle TCI's (Akhaber) Debt

Telecommunication Company of Iran (symbol Akhaber, MKBT) disclosed on Codal that it swapped three properties in Semnan province, appraised at a combined 732.147 billion rials, to settle a debt owed to Faratamin Ertebatat Paydar. The group-B material disclosure states the properties' book value was only 2.833 billion rials, and that the direct swap bypassed a public auction because the properties had failed to sell in the company's previous auctions. The filing was published on Codal at 18:07 Tehran time on Sunday, September 20. Akhaber's shares fell 2.98 percent to 1,074 rials in the same day's trading.