TAPPICO Set to Become Equity Market’s Largest Firm

Tamin Petroleum and Petrochemical Investment Company is expected to become Tehran Stock Exchange’s largest listed firm in terms of nominal capital once it undertakes a capital increase of 38 trillion rials ($977.36 million). The company’s trading symbol, “PTAP” was closed at the end of Monday trading to prepare for its annual and extraordinary general meetings, slated to be held on Wednesday, Bourse Press reported. TAPPICO had received a permit for increasing its capital by 87% on May 21. The equity market’s current largest firm in terms of nominal capital is Mobarakeh Steel Company with 75 trillion rials ($1.92 billion). If approved in the meeting, TAPPICO would zoom past MSC with a capital increase of 81.5 trillion rials ($2.09 billion).