A Virtual IPO: Parsian Leasing Co. joins Tehran Stock Exchange

Tehran Stock Exchange Posted

400 million shares, representing 20% of total equity shares of Parsian Leasing Co. was offered publically on Tehran Stock Exchange through a virtual ceremony.

Parsian Leasing Co. went public on Wednesday, 8 July 2020. Out of total floated equities, 335 million shares were offered to the public today, and 65 million shares will be offered to the Investment Funds on Saturday, 11 July 2020.  The IPO ceremony celebrating the 338th company listed on TSE’s market was also broadcasted online via TSE’s official channel on https://www.aparat.com.

After the price discovery carried out through book-building method, the equities were traded at IRR 3200 per share. The newly-listed company increased TSE’s total market capitalization up to IRR 6400 billion.

It is important to mention that due to strict health recommendations in current conditions about Coronavirus prevention and maintaining public health, the IPO ceremony of Parsian Leasing Co. was held virtually through electronic infrastructures of the capital market.

Parsian Leasing Co. was founded in 2000, acts under the supervision of the Central Bank of the Islamic Republic of Iran (CBI) as one of the companies in the leasing industry. Its activities include cars and trucks, home appliances and computer, medical and dental equipment, industrial, road constructing and mining machinery, marine vessels and port equipment, service, commercial and office properties, etc. This company is also planning to enter the field of air transport fleet leasing.