The initial public offering of FKA Agriculture & Animal Husbandry Company (FKA) has completed today on Iran Fara Bourse (IFB) Second Market and each share of FKA priced at 8,300 rials building the market capitalization of more than 12,000B rials for the Agriculture and Related Services sector in IFB.
FKA Agriculture & Animal Husbandry Company was the fifth Agricultural company to go public on Iran Fara Bourse stock exchange in the Iranian year of 1397 and the tenth one (agricultural company) ever listed on IFB.
Moreover, in the very initial public offering which was the second IPO of 2019 and the twelfth one of the Iranian year, 1397, the total of 60M shares (20 percent) of FKA went public by Saba Tamin Brokerage Co. through book building method using the ticker symbol “FAAZ” in 8,200 rials_8,300 rials price range in the IPO process in which more than 348,000 traders participated.
Furthermore, at the IPO press conference held yesterday which was the 48th one, FKA CEO elaborated on their development plans and mentioned some of the company’s strong points like expert and skilled worker, well-equipped genetic lab, being a knowledge-based complex, etc. He then declared that FKA’s net profit increased by 91% in the first three quarters of 1397.
Notably, IPO press conference is an event established by Iran Fara Bourse in 2016 to raise awareness of the details of the IPO and the company’s status which is going to be offered to the public soon.
Finally, Iran Fara Bourse stock exchange also hosted the initial public offerings of Ghadir Petrochemical Co., Neishabour-based Binaloud Agriculture and Animal Husbandry Co., Ghiam Esfahan Agricultural and Livestock Co., Atrin Nakh Qom Co., Kish Parsian E-Commerce Co., Avicenna Laboratories Inc., Ghaed Basir Petrochemical Co., Gohar Zamin Iron ore Co., Maadiran Group, Isfahan Kesht Agricultural, and Dashte Khoramdareh Poultry and Livestock and Agro-Industrial Complex since the beginning of the Iranian year of 1397 (March 2018).