KIPEC IPO Priced at High End

Shares of Kish Parsian E-Commerce company (KIPEC) went public today by Parsian Brokerage Co. through an initial public offering at the Second Market of Iran Fara Bourse Stock Exchange.

10 percent (40 million shares) of the shares of KIPEC priced at high end of the target range which was 1600 to 1700 rials on Saturday as the fifth IPO of the year.

More than 170,000 traders participated in the IPO of the provider of electronic banking facilities which went public on September 22 under book building method.

Kish Parsian E-Commerce Co. is established in 2008 for doing commercial jobs of PARSIAN BANK Holding.

Finally, Iran Fara Bourse stock exchange hosted the initial public offerings of Ghadir Petrochemical Co., Neishabour-based Binaloud Agriculture and Animal Husbandry Co., Ghiam Esfahan Agricultural and Livestock Co., and Atrin Nakh Qom Co. this year so the very IPO was the fifth one since the beginning of the Iranian year of 1397.