Economy, Business And Markets

Sakhab Trading Debuts at IFB

Sakhab Trading Debuts at IFBSakhab Trading Debuts at IFB

The initial public offering of the so-called Sakhab bonds took place on Iran Fara Bourse on Wednesday after months of trading by banks. The trading symbol of “BT051” opened on IFB in the early trading hours and witnessed the transaction of 392,000 securities valued at 364 billion ($9.36 million), with institutional traders accounting for about 94% of trading, TSE’s website reported. The final price stood at 926,602 rials ($23.83) and its yield to maturity ratio was at 19.2%. Sakhab is one of the many types of debt securities issued by the government meant to clear its debts to banks, contractors and municipalities. There are seven types with maturity periods ranging from eight to 24 months. The type traded on Wednesday was Sakhab 5, issued on March 18 and scheduled to mature on February 13, 2018.

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