Economy, Business And Markets

IRCI Initial Public Offering

IRCI Initial Public OfferingIRCI Initial Public Offering

The offering of creation units by the Industries Renovation Company of Iran (IRCI) will be available in the equity market on December 1, accounting for 91,630,000 shares, with the base price of 3,032 rials per share, Tasnim reported. This amount is reportedly 100 percent of the IRCI shares, which will be sold in the form of large blocks of IPO shares.  According to the report, the creation units will be offered based on cash and installments. The buyers may pay 30 percent cash and the rest will be settled in 4 years installments bearing 15 percent interest rates.  Based on the report, the creation units are worth almost 186 trillion rials.