Following The Bull Run In Iran Capital Market IFB Hosts Two IPOs In Less Than A Week

Tuesday, 10 July 2018

Since the beginning of the Iranian current year (March 21), Iran Fara Bourse has not played host to any IPOs. As Iran Capital Market has witnessed a bull run since June 12 and General Assemblies season is about to end more and more companies are willing to go public. There was Ghadir Petrochemical Company IPO last week and this week IFB’s Second market hosts Neishabour-based Binaloud Agriculture and Animal Husbandry Co. initial public offering.

The first IPO of the year was conducted on Iran Fara Bourse last week by Saba Tamin Brokerage company and 10% of the shares of Ghadir Petrochemical Company went public. More than 146,000 traders participated in this IPO and each share of this company was discovered 1700 rials.

As noted above, Neishabour-based Binaloud Agriculture and Animal Husbandry Co. is going to be publicly offered this week by Behgozin Brokerage company. As the second IPO of the year, 40 million (10%) shares of Binaloud company is going to be public this Tuesday on IFB’s Second market under book building method.
The very company has set a 1480 to 1524 rials a share price range and each investor can bid only on the maximum number of 800 shares.