Tehran Stock Exchange Offers Parsian Oil & Gas

Tuesday, 13 March 2012

On 15 February 2012, Parsian Oil and Gas Development Co. (POGDC), a petrochemical holding, made an initial public offering of 600 million shares (equivalent to 10 percent of its total equity shares) at Tehran Stock Exchange. The offered shares were sold by Ghadir Investment Company, the main stockholder, at the price of IRR 4,800 (USD 0.39) per share, with the total trading value of IRR 2,880 billion (USD 235 million).

Common stocks of POGDC are now listed and tradable on TSEs second board of first market, under the symbol PASN.
The Parsian Oil and Gas Development Co. (POGDC) was established on August 2007. As a major petrochemical holding, it is active in investment of the oil, gas and petrochemical industries in Iran and its subsidiaries produce 3.3 million tons of methanol, more than 1.7 million tons of ammonia and 2.8 million tons of urea per year.