Iran Capital Market Hosting “Omid” on
* Today Iran Capital Market hosted a new IPO after nearly 2 months as the 11th IPO on the Tehran Stock Exchange (TSE) where 10%, i.e. 490 mn shares of Omid Investment Bank, the first of its kind, were offered through the book building method; each code, both individual and institutional, were allowed to put purchase orders for 10,000 shares with each share price ranging from IRR 1500-1600; at the end of the process. Market making services are set to become compulsory in the upcoming future which picture a bright future ahead such companies. Besides, the ongoing development of Iran securities market and the introduction of new financial instruments can offer growth potential for investment banks. The company has raised its net profit for the next FY by 10%, announcing to make IRR 293 EPS. It is worth mentioning that Gol-e Gohar (12.1%) and Chadormalu (17.8%) Mining and Industrial companies are among the company shareholders.