Iran Fara Bourse is set to witness the initial public offering of Binalood Neyshabur Agriculture Company on July 10.
The IPO will float 10% or 40 million of the company’s shares, each priced at 1,480-1,524 rials. The purchase cap for institutional and non-institutional buyers is 800 shares.
“BAHZ” was first listed on IFB’s Second Market in November with a 400-billion-rial ($9.52 million) capital, Bourse Press reported.
This is the current fiscal year’s (March 2018-19) third IPO on Iran’s capital market, following Saman Kish Electronic Payment Company and Ghadir Petrochemical Company.
Binalood’s major shareholders include Islamic Revolution Mostazafan Foundation and Pars Agriculture Company with a stake of 49% and 51% respectively.
The company’s main field of business, accounting for 77% of its revenues, is milk production.
