Tehran Stock Exchange IPOed first state-owned refinery Co.

Monday, 30 June 2008

On 29 June 2008, In compliance with the privatization scheme, five percent of equity shares of stateowned Esfahan Oil Refining Co (Equivalent of 208,112,905 shares of company) first time after listing, was offered by the government on Tehran Stock Exchange at the price of $ .62 per share with the total value of $129 million. This IPO exercise is likely to continue; 15 percent of Esfahan Oil Refining is going to be offered by government in coming days.About Esfahan Oil Refining Co. (E.O.R.): Esfahan Oil Refining Co. was designed with a nominal capacity of 200,000 BPD. Its location, north-west of Esfahan, makes it one of the closest, vastest, and most important industrial complexes of the region. The first distillation unit of E.O.R.C became on stream in 1979 and its capacity was raised to more than 90% over design during the 1980s and today E.O.R.C provides the country with more than a quarter of her daily needs .Today E.O.R.C is not only
to providing the country with a major portion of her daily requirements but is also responsible to provide other industries with their required feed stock and/or energy resources.