The block, which represented 20% of the government’s remaining stake in the refinery, was offered and bought Monday, IBENA reported.
It comprised more than 205 million shares priced at 63,453 rials (about 50 cents) apiece, according to Financial Tribune.
As per an earlier offer notice, buyers should pay half the price in cash within 20 business days and the other half in installments over two years.
Base price of shares was set on prices shown on the IFB bulletin a day before the offer plus 20%.
As per a separate notice on the IPO website, the residue of government shares in Lavan Oil Refining Company will also be offered in block on February 20.
The block is tagged at 11.04 trillion rials ($80 million) with 538 million shares. Those interested should buy the shares in lump.
There are plans to offer government shares in Tabriz Oil Refining Company and Alborz Insurance Company in the next calendar month that starts Feb 20.
In the past offering shares in block failed to attract buyers.
The government offered, but failed to buyers, of shares in Shiraz Oil Refining Company, Lavan Oil Refining Company, Tehran Oil Refinery Company, Isfahan Oil Refinery and Alborz Insurance Company.
Due to the size of block trade, both on the debt and equity markets, individual investors rarely, if ever, make block trade. In practice, such trade typically occurs when significant hedge funds and institutional investors buy and sell large sums of bonds and shares in block trades via investment banks and other intermediaries.
Block trade normally is undertaken outside the open market to lessen the impact on the security prices.