Refinery ETF Debut on Wednesday

Subscription for units of an exchange-traded fund that holds government stakes in four refineries will commence on Wednesday, head of the Iranian Privation Organization said. 
“IPO has received the permit for launching the ETF and its ticker symbol was registered at the Tehran Stock Exchange today (Saturday),” Alireza Saleh said.    
The assets include the government’s remaining stakes in four major oil refining companies, namely Tehran Oil Refining Company, Esfahan Oil Refining Company, Tabriz Oil Refining Company and Bandar Abbas Oil Refining Company. The government owns 20% of shares in each refinery.