Tehran Stock Exchange offered to the public: Fars Nov Cement Co.

Sunday, 25 October 2009

On 21th October 2009, 5 percent of equity shares of Fars Nov Cement Co. (Equivalent of 17.5 million shares of company), first time after listing, was offered to the public (IPOed) on Tehran Stock Exchange at the price of $ 0.25 per share with the total value of $4.3 million. IPO of Fars Nov Cement Co. raises the TSE listed cement companies to the figure of 30. About 6.5 percent of TSE capitalization belongs to cement companies. Fars Nov Cement Co. is the first non – state – owned company that publicly offered on TSE in 2009. Fars Nov Cement Company was founded by Fars Khozestan Cement Holding as major Shareholder in 2005. Fars Nov Cement produces various types of gray portland cement with total production capacity of 3000 ton/day. The factory is located near Shiraz, Southern Iran