Fajr Petrochemical Company TSE IPO

Overview:

• Fajr Petrochemical Company launched its IPO in February, selling 200 million shares (8% of its equity) through the Tehran Stock Exchange (TSE).  
• The deal gives the company a market cap of $1 billion. 
• The IPO is the first on the TSE since the US and EU relaxed economic sanctions previously imposed on the country.   
• Fajr provides utilities to plants in the special petrochemical economic zone in Iran. 

Ben Naylor - Editor EMEA