Iran Fara Bourse (the country's over-the-counter exchange, known locally as Farabourse) has officially confirmed that a controlling block of 65.05 percent of Movalled Niroogahi Tejarat Fars, a thermal power generation company traded under the symbol Bemovalled (Persian: بمولد), will go up for sale on Saturday, August 15, 2026 (24 Mordad 1405), in Farabourse's second market. The eye catching part is the pricing formula: the buyer must pay at least two and a half times the stock's latest board price, a sum that at today's price works out to roughly 11,000 billion tomans for the whole block. In the same stretch of days, Bemovalled has also hit a fresh one year high in ordinary trading and is locked in a buy queue.
Background
Farabourse's market operations management announced the sale on Sunday, August 2, 2026 (11 Mordad 1405), the same week Sahmino covered it alongside two other controlling and non-controlling block offerings (6.97 percent of Kaghaz Pars and 16.34 percent of Nooshe Mazandaran). The block on offer is 5,510,774,551 shares, equal to 65.05 percent of the company's 8,471,000,000 total shares; whoever buys it effectively takes control of the company. Bemovalled has climbed fairly steadily since the middle of last August: from around 4,690 rials to a Monday, August 10, 2026 close of 7,800 rials, a gain of nearly 66 percent over a year. Today, Wednesday, August 12, 2026, its latest traded price reached 8,030 rials, up 2.95 percent from the prior close, meaning the stock is trading right around its one year high. The sale itself falls under Iran's "controlling cash block offering" category, and on sale day it trades under the special session symbol Bemovalled 4, separate from Bemovalled's regular daily ticker.
The base price: 2.5 times the board
Under Farabourse's official notice, the total base price for the offering equals the value of the shares on offer at "the closing price the trading day before the sale" or "the day the offer notice was published," whichever is higher, plus 150 percent of that value. In plain terms, the buyer must pay at least two and a half times the market price. Using today's latest price (8,030 rials) as an illustrative reference, each share would be valued at roughly 20,075 rials, putting the whole 65.05 percent block at close to 11,000 billion tomans. That figure is only a picture of the formula, not the final number: the actual base price is only set once today's close is compared with the close on the announcement day (August 2, roughly 7,190 rials). Because Wednesday, August 12 is the last trading session before the weekend and Saturday's sale, today's closing price effectively decides one of the two benchmarks the pricing formula will use.
What is driving it
Over its trailing twelve month period, Bemovalled posted earnings per share of 825 rials, putting its price to earnings ratio at 9.71 at today's price, versus a sector average of 7.64 for "power, gas, steam and hot water supply," meaning the market already prices Bemovalled above its own sector. Its market capitalization at today's price is roughly 6,785 billion tomans. Today's order book shows the stock locked in a buy queue, with demand for more than 5,000 shares at the top price tier and no matching supply, while today's average retail buy ticket (about 447 million rials) is several times the average sell ticket (about 43 million rials), a sign of concentrated, determined buyers in the open market right as the controlling sale approaches. That appetite fits a bigger backdrop: Mehr News Agency has reported that Iran's thermal power utility brought 2,582 megawatts of new thermal generation capacity online over the past year, backed by 1.4 billion euros of investment, a sign of steady demand for power generation assets in the country, of which Bemovalled is one. For a controlling buyer, this is not only a financial call: whoever buys the 65.05 percent stake also takes the board seats and the company's decision making, and that management weight is what could make a 150 percent premium worth paying for some bidders.
Outlook
A sale priced at two and a half times the board will be a genuine test of demand for control of Bemovalled, not an ordinary trade. Not every buyer can put together roughly 11,000 billion tomans in cash at once, and not every player will accept that kind of premium over the market price unless the strategic value of control, not just the shares, is factored in. Whether a buyer actually registers for the block on Saturday, August 15 remains an open question; the figures above are an illustration of the official formula, not a forecast of the sale's outcome.
Bottom line
Farabourse will offer 65.05 percent of Bemovalled's controlling shares on Saturday, August 15 at a base price of roughly two and a half times the board, right as the stock hits a one year high in ordinary trading and sits in a buy queue. The number worth remembering is that 150 percent gap between the base price and the board, a gap that makes this sale less a routine trade than a test of how serious controlling buyers really are.
What to watch
Today's closing price (Wednesday, August 12) and the final base price Farabourse will publish before Saturday's sale.
