Interview with Mr. Mahmoud Goudarzi | New IPO on Tehran Stock Exchange

Tuesday, 16 May 2023


On March 29th, 2023, FEAS Member Tehran Stock Exchange announced about New IPO by  Pasargad Electronic Payment company.

FEAS Secretariat talked with the Tehran Stock Exchange’s CEO Mr. Mahmoud Goudarzi to know more details about the IPO.


1. How was the IPO process and what is your suggestion to the companies that are thinking about going for an IPO in the future? 

According to “the Regulations on Securities Listing in Tehran Stock Exchange”, as well as “the Rules on the Registration and Public Offering of Securities on Tehran Stock Exchange (TSE), the process of registration, listing and Initial Public Offering of Pasargad Electronic Payment company was carried out. 

The listing process was included: submitting the listing application, providing the required documents by the company, raising the issue in the Listing Board Committee and making decision about meeting the conditions for inserting the company’s symbol, submitting the evaluation report, introducing company and informing about the IPO on TSE’s website.

Finally, the company’s shares were IPOed through book building method on 5 April 2023.  

2. How does the stock exchange plan to support and promote Pasargad Electronic Payment to investors?

Tehran Stock Exchange’s plans to support and introduce companies that are to be publicly offered are companies’ prospectus and evaluation reports disclosure on TSE’s website and holding introduction meetings and companies initial public offering ceremonies.

3. Can you discuss the listing process for the new company, including any requirements or criteria that had to be met?

In addition to the requirements stipulated in the existing rules and regulations, regarding the conditions of each company, the Listing Board may impose some special requirements which must be fulfilled by the company.

More about the IPO: