Today: April 17 2014
7/9/2013 2:11:49 PM
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A New IPO at Tehran Stock Exchange
Tamin Petroleum and Petrochemical Investment Company made an initial public offering of 1450 million shares .

On 9 July 2013, Tamin Petroleum and Petrochemical Investment Company (TAPPICO) made an initial public offering of 1450 million shares (equivalent to 5 percent of its total equities) at Tehran Stock Exchange (TSE).

Shares were offered at the price of IRR 3500 each, with the total value of more than IRR 5000 billion. The investment company was wholly owned by Social Security Investment Company before the IPO.

The major shareholder of TAPPICO has floated the first five-percent of the shares for price discovery, and has committed to offer more gradually and as market status suits, confirmed Dr. Ghalibaf Asl, TSE’s CEO.

There are 317 listed companies at TSE, and TAPPICO is currently the 7th largest one by market capitalization.

The newly listed investment company is in charge of management, surveillance and procuring in some of the petroleum and petrochemical units of Iran. The main products of TAAPICO’s subsidiaries are (poly)ethylene and (poly)propylene, polyvinyl chloride, carbon monoxide, ammonium, acids, bitumen, LNG, and industrial lubricants.

 


Tags :IPO at TSE - TEHRAN STOCK EXCHANGE-