Major Cement Company Goes Public

Ghadir Industry and Investment Development Company, better known as the “Cement Holding of Ghadir Investment” conglomerate, is to make its first stock market debut on Saturday.  
As per a notice by Iran Fara Bourse, the junior equity exchange, the company will offer 5% of its stake of 167 million shares -- each share at 14,500 rials. It expects to generate 2.42 trillion rials ($8 million) via the IPO.  
The IPO will be premised on the newly announced regulations for small-size listed companies. As per the guidelines, a newly listed company with small market cap can offer shares only to professional investors.