Petrochemical Giant Launching Investment Bank

Persian Gulf Petrochemical Industries Company is to set up an investment bank and has issued a subscription notice to sell shares before an initial public offering.
Iran Fara Bourse website said investors can subscribe for shares of the Persian Gulf Investment Bank from Saturday. The subscription phase will last for one month.
Subscription of stocks refers to newly issued securities that an investor has agreed to buy prior to the official issue date. When investors subscribe they expect to own the nominated shares once the offering is complete. Investors may subscribe to a company's IPO before knowing the actual IPO price on the first day of trading.