A Textiles Company Went Public Today On IFB

15 percent of the shares of Atrin Nakh Qom company went public today on Iran Fara Bourse Second market by Razavi Brokerage Co. under the ticker of ANQZ as the fourth IPO of the year. Each share of ANQZ has discovered 4914 rials in the IPO process in which more than 138,000 traders participated.

The maximum of 300 shares could be bought by each investor through book building method in 4680 to 4914 rials price range.

“Atrin Nakh Qom” company which is a subsidiary of Golriz Qom Industrial Group was established in 2015. The factory is a specialized production plant of PES, PA and twisting filament yarn in Iran.

At the IPO press conference held on Sunday, the Board of Directors Chair elaborated on the focus of the company’s activities, capital changes, financial statements of recent years, the position of companies in the textile industry, prospects, missions and opportunities, and threats. Moghadam then stated: “85% of the company’s production capacity was used last year and we’re going to reach the 90% level in 2 years”.

Moreover, the board chair emphasized on the most important missions and goals of the company which are increasing profits, producing a high quality product or service, entering the new domestic markets and expanding exports and said: “Export share of sales will continue to rise this year and we are planning to expand the export to the Eastern European and CIS countries in addition to Turkey which is our main export destination ”.

He continued: “Total sales revenue of the company in the Iranian year of 1396 witnessed a growth of 18.5%, 2% of which is realized due to the total sale increase (domestic and foreign sales) and the rest is the result of price change”.

Also, yarn production for the (Iranian) year of 1396 is 6,792 tons indicating a growth of 2% as compared to its previous year and Atrin Nakh Co. is planning to produce 7,200 tons in the current year, according to Moghadam.

Finally, Iran Fara Bourse stock exchange hosted the initial public offerings of Ghadir Petrochemical Co., Neishabour-based Binaloud Agriculture and Animal Husbandry Co., and Ghiam Esfahan Agricultural and Livestock Co. this year so the very IPO was the fourth one since the beginning of the Iranian year of 1397.