Kerman Khodro Gets the Green Light for IPO

Owning a 3.4% share of Iran’s auto market, the country’s second-largest private automotive company Kerman Khodro has acquired the required permits for launching an initial public offering on Iran Fara Bourse.
According to the official website of Fara Bourse, the IPO permit was issued on July 11, which will eventually grant the public access to the company’s shares.
Furthermore, henceforth financial reports and related documents of Kerman Khodro Industrial Group will be available on codal.ir, a website backed by the Securities and Exchange Organization.
According to codal.ir, the nominal price for each share is 1,000 rials, however, the company is yet to determine how much of the company is to go public. An informed source speaking to Financial Tribune on condition of anonymity said that the final IPO price for Kerman Khodro shares are yet to be determined.