EghtesadOnline: The initial public offering of FKA Agriculture & Animal Husbandry Company (FKA) has been completed on Iran Fara Bourse Second Market with each share of FKA priced at 8,300 rials.
FKA Agriculture & Animal Husbandry Company is the fifth Agricultural company to go public on Iran Fara Bourse stock exchange in the Iranian fiscal that started last March and the tenth ever listed on IFB.
Moreover, in the initial public offering which was the second IPO in 2019 and the twelfth since March 2018, the total of 60 million shares (20%) of FKA went public by Saba Tamin Brokerage Co. through book building method using the ticker symbol “FAAZ” in the 8,200 rials-8,300 rials price range, a press release by IFB said.
Iran Fara Bourse stock exchange also hosted the initial public offerings of Ghadir Petrochemical Co., Neishabour-based Binaloud Agriculture and Animal Husbandry Co., Ghiam Esfahan Agricultural and Livestock Co., among others, since March 2018, according to Financial Tribune.
By the end of January Iran Fara Bourse main index, IFX closed at 1,932, climbing 3.1% compared to the previous month. The highest close level for the index (IFX) during the month was 2,003.5 on Jan. 19.
Overall 19,555 million of securities worth $ 2.27 billion changed hands in January on Iran Fara Bourse, up 6% and 2% respectively compared to December 2018 and up 113% and 65% compared to January of last year.
Moreover, the total number of transactions executed during the month reached 2,993,000 compared to 1,143,000 traded in the same period the previous year, up by 162%.
Also, the total volume traded of listed securities or Structured Financial Products (i.e. ETFs, Mortgage Rights, Debt Market, and Underwriting) reached 448 million worth $1 billion.
Iran Fara Bourse Second Market hosted the initial public offering of Dashte Khoramdareh Poultry and Livestock and Agro-Industrial Complex (Dashte Khoramdareh) in January which was the first IPO in 2019 and the eleventh in fiscal that ends in March.
Also, 10 trillion rials Manfa’ah Sukuk were sold in Iran Fara Bourse to help finance oil projects. According to a notice published on the IFB website, 10 million Manfa’ah bonds, each worth 1 million rials, were sold in the IFB’s Structured Financial Products market.