Economy, Business And Markets

IFB Trade Jumps After Fresh Underwriting

IFB Trade Jumps After Fresh UnderwritingIFB Trade Jumps After Fresh Underwriting

An unprecedented underwriting at Iran Fara Bourse was accompanied by a massive surge in daily trade volume and value, with more than 3.1 billion securities sold at $193.7 million on Sunday.

As IFB reported, the under-establishment Tejarat No Insurance Company witnessed a warm welcome as 726 of its shares valued at close to $26.15 million were sold out, accounting for about 98 percent of the company’s ownership.

The IFB’s overall index IFX notched up 0.57 point or 0.08 percent to stand at 703.13. The highest trade volume and value were registered for Tuka Rail Company’s rights offerings.

The fixed-income market filed the trade of 464,240 of Mapna Group’s leasing bonds. Meanwhile, the highest trade volume among listed exchange-traded funds was recorded for Etemad Fund with up to 1.4 million units.

Day Insurance Company, EN Investment Company and Novin Insurance Company saw the highest surge in their shares’ value. Amir Kabir Petrochemical Company and Fan Ava registered the biggest retreat in the value of their shares.