EghtesadOnline: Rail wagon and locomotive producer Asia Seir Aras Company is set to have its initial public offering today to mark the current fiscal year’s (2017-18) eighth in the equity market.
With a market capitalization of 800 billion rials ($20.5 million), the company is currently listed on Iran Fara Bourse. The IPO includes a 10% offering of the firm’s shares totaling 80 million at a price range of 1,150 to 1,200 rials undertaken by Mehrafarin Brokerage. Each institutional and non-institutional trader can purchase a maximum of 850 shares, Bourse Press reported. Asia Seir Aras Company has forecast 78 rials of earnings per share for the current fiscal year and realized 19% of its target during the first quarter of the year. The market’s last IPO was for Iran & Shargh Leasing Company after Rishmac Company, HiWeb, Chador Sazan Company, Parsian Kowsar Hotel, MobinOne Kish and Behpardakht Mellat respectively, Financial Tribune reported.