Iranian Tobacco Company Plans IPO, TSE Listing

Iranian Tobacco Company will be listed on Tehran Stock Exchange in the near future. 
According to Siavash Afzali, managing director of the company, 10% of the shares of the company will be sold through an initial public offering to determine its value in the first stage and then all the shares will be offered as per the calculated price. 
“More than 70% of ITC products were loss-making in the first half of the fiscal 2019-20, i.e., their prices were lower than market [prices]. But now the profit margin stands at 17-20%,” he was quoted as saying by IRNA. 
ITC produced over nine million cigarettes in the last fiscal year (ended March 20, 2021), which indicate a 50% increase compared with the year before, according to the managing director.