Iran’s largest holding company, Social Security Investment Company, goes public on Wednesday with 12% of its stake via an initial public offering.

SSIC, also known locally by its Persian acronym Shasta, plans to sell 10% of its stakes, accounting for a total 8 billion shares, at the Tehran Stock Exchange. Two percent will go into investment funds.

With each share price around 8,600 rials, it is estimated that the IPO would raise about 68.8 trillion rials ($430 million).
Each institutional and individual trader can buy a maximum 10,000 shares, by placing order through book-building method, according to a notice published on the TSE website.

Source » ft