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Major Iranian PSP Gears up for TSE Initial Public Offering

TSE is planning to float the shares of 12 companies in the current fiscal year (started March 21).TSE is planning to float the shares of 12 companies in the current fiscal year (started March 21).

Saman Kish Electronic Payment Company (SEP) is set to have its initial public offering on Tehran Stock Exchange on Sunday.
The TSE-listed 1.8-trillion-rial ($42.8 million) company was ready to float its shares in early March. The IPO, however, was postponed due to revisions in valuation reports and Securities and Exchange Organization’s subsequent concerns.
Yet in less than three months, SEP has wooed the SEO and cleaned up its books. It will offer a 10% stake in the company amounting to 180 million shares.
There will be a purchase cap of 5,000 shares priced at 6,200-6500 rials ($0.14-$0.15) per share, Bourse Press reported.

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