An Insurance Company Listed and Traded on IFB

Wednesday, 10 October 2018

Novin Insurance company has been recently listed on Iran Fara Bourse Stock Exchange and upgraded from IFB Base Market to its Second Market. Shares of Novin Insurance traded under the ticker symbol of “BNOP” and discovered 1299 rials each today.
BNOP which is the 5th ticker symbol of an insurance company to be opened on IFB, was traded in Unlisted Equity category this year; Following BNOP listing by Sepah Bank Brokerage Co. it will be traded on IFB Second Market (Listed Equity category) from now on.
At the BNOP IPO press conference which was held in August 2018, the CEO told the reporters that the company realized a net profit growth of 221% and an accumulated losses reduction of 38% in the Iranian year of 1396 (March 2017_March 2018) as compared to the previous year.
Notably, 6 percent of the company’s shareholders are real entities and among the rest of 93 percent (legal entities) Eghtesad Novin (EN) Bank is the major shareholder with 19.9% followed by Novin Investment Bank Group and Mellat Investment Bank own 17% each.