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AsiaTech Going Public

AsiaTech Going Public  AsiaTech Going Public

Shares of AsiaTech, one of the largest Iranian Internet service providers, will soon announce an initial public offering on the Tehran Stock Exchange, the company’s CEO said.

“Ten percent of AsiaTech’s shares will be listed on TSE,” Mohammad Ali Yousefizadeh was quoted by Bourse Press as saying.

“It is estimated that 30 million shares could be sold by the next weekend,” Yousefizadeh said but did not elaborate on the price or other details.

Asia Tech is a privately-owned ISP. According to a survey conducted by Communication Regulatory Authority in 2016, the company was voted by the people as the best ISP in Tehran.

The ISP got approval from the TSE board of supervisors in May to join the stock market.

Earlier last week the company installed 36 public WiFi hotspots in some cities including Tehran, Mashhad, Shiraz, and Yazd.

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Financialtribune.com