Steelmaker, Cosmetic Company to Make Stock Market Debut

The stock market will host initial public offering for two companies on Wednesday, including a giant steel company and a cosmetic firm.
Sirjan Jahan Steel Complex Company (SJSCCO) will offer 10% of its stake comprising 4 billion shares at Iran Fara Bourse, the junior equity market, according to a notice published on the IFB website.
With prices ranging from 4,500-5,500 rials per share, the IPO is expected to generate 22 trillion rials ($80 million) for the metal company. Investors can purchase a maximum of 8,000 shares each. The IPO is the biggest of its kind in the present fiscal year that started in March.
A subsidiary of the National Pension Fund’s Iranian Copper Industries Company, the SJSCCO was founded in 2009 in Sirjan in southeastern Kerman Province.