Iran Fara Bourse to Host Four IPOs

EghtesadOnline: The initial public offering of four companies is in the offing in the Iran Fara Bourse, the junior stock market, said the IFB deputy for market affaiars.

News ID: ۷۴۸۱۰۸

07 August 2019

It will host IPOs of General Mechanic Company (active in construction sector), Hejrat Distribution Company, Fanva Card Company (electronic payment service provider) and Jahrom Power Plant, Afsaneh Orouji told Fars News Agency.

According to a notice on the IFB website, the shares of Hejrat Distribution Company will be offered on August 10.

The company offers 67.5 million shares in the IPO, out of a total 450 million pieces. The shares are to be offered in the IFB Second Market at a nominal price of 1,000 rials apiece, Financial Tribune reported.

Legal and natural entities can buy a maximum of 225 shares.

The company is active in distributing and sale of pharmaceuticals, medical facilities, food supplements and health products.

IFB has not announced the timeline for IPOs of remaining companies.