The IPO press conference for the public offering of Kish Parsian E-Commerce company (KIPEC) was held yesterday on Iran Fara Bourse stock exchange.
10 percent of the shares of Kish Parsian E-Commerce Co. (KIPEC) is going to be offered to the public on Saturday (September 22) by Parsian Brokerage Co. as the fifth IPO of the year.
The maximum of 800 shares could be bought by each investor through book building method in 1600 to 1700 rials price range.
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.
Reporters, investment consulting firms and financial data processing companies generally take part in this particular kind of conference to ask their questions about the company’s financial statement, visions, and missions, etc. and then a board of directors member or the managing director is supposed to fix the ambiguity and elaborate on the subject so that the investors could better bid on the stock with their eyes open which will in turn enhance the transparency of the trades; Therefore the very conference must be held before the actual public_offering day.
At the KIPEC’s IPO press conference which was the 40th one held in IFB, the CEO of the company told the reports that KIPEC is going to broaden its market share and planning to export some of its products.
Kish Parsian E-Commerce Co. is established in 2008 for doing commercial jobs of PARSIAN BANK Holding.
Notably, KIPEC’s vision is to be the pioneer in supplying equipment and providing services and supplying electronic banking equipment in the country and region.
The scope of KIPEC company in brief is: Installing Point Of Sale (POS), Pin Pad, ATM, cashless for bank and PCPOS and other electronic banking facilities, giving after sales services, supplying PCPOS via SAM4S Company of South Korea, buying and selling all electronic banking products, and manufacturing and installing industrial units for assemble and make computer and electronic banking facilities.
The IFB Executive Vice President, Chief of Market Development on the very IPO press conference stated that: The introduction of new kinds of financial instruments like Ijarah and Manfa’ah Sukuks is another achievement in this regard so that this diversification of traded securities which is designed in accordance with needs of companies and the increase in the volume of the issued securities added to the attractiveness of this market.
Gholamalipoor then added: Among the securities that were eligible to be issued according to the Budget Law, 12 series of Islamic Treasury Bills were listed in IFB. In the Iranian year of 1393 (4 years ago) 4500 billion rials worth of securities (based on face values) were listed on IFB and this number is now 86,000 billion rials which indicates a notable growth rate.