Iran Privatization Company (IPC) has announced that 100 percent of the shares of Damavand Petrochemical Company (DPC) will be offered through Iran Fara Bourse or over-the-counter (OTC) market on December 7. IPC intends to launch the Initial Public Offering (IPO) on behalf of the DPC, offering 12,500 shares based on cash payment or installment. Each creation unit will be sold at around 1.6 billion rials, while the total value of the creation units is estimated to reach more than 20 trillion rials. DPC’s IPO will come shortly after the recent offering of Ghasem Iran Company (GIC) shares, which brought about more than 40 percent profit for its shareholders within 7 official trading days. Reports say investors are still lining up to buy GIC shares, as it’s thought to be one of the highest yielding companies at the equity market.
