Iran Fara Bourse to Host Agri Firm’s IPO Today

EghtesadOnline: Iran Fara Bourse is set to witness the initial public offering of Binalood Neyshabur Agriculture Company on July 10.

News ID: ۷۸۳۲۰۳

10 July 2018

The IPO will float 10% or 40 million of the company’s shares, each priced at 1,480-1,524 rials. The purchase cap for institutional and non-institutional buyers is 800 shares.

“BAHZ” was first listed on IFB’s Second Market in November with a 400-billion-rial ($9.52 million) capital, Bourse Press reported.

This is the current fiscal year’s (March 2018-19) third IPO on Iran’s capital market, following Saman Kish Electronic Payment Company and Ghadir Petrochemical Company, Financial Tribune reported.

Binalood’s major shareholders include Islamic Revolution Mostazafan Foundation and Pars Agriculture Company with a stake of 49% and 51% respectively.

The company’s main field of business, accounting for 77% of its revenues, is milk production.