Investment units of SEPAS Exchange Traded Fund (ETF) will be publicly offered on March seventh. The ETF will be open for purchase from 9:30 to 12:30 Tehran time, under the ticker symbol “Sepas 1” in the Tehran Stock Exchange (TSE). A minimum of 1000 units must be purchased by a single person. But the maximum number of units that can be purchased by each institutional or non-institutional entity will be announced on the offering date. The nominal unit and base price for each unit are 10,000 rials (35 cents at official exchange rate), and the ceiling price is 11,000 rials (39 cents). Each unit has a 13 thousand rial (46 cent) put option at its maturity on April 19, 2016. The method for exercising the option will be decided by ETF’s manager and announced by the TSE.
