Tabriz Petrochemical IPO on Tehran Stock Exchange

Tabriz Petrochemical is preparing to launch an initial public offering (IPO) on the Tehran Stock Exchange. The offering, which uses the trading symbol ‘SHTABRIZ’, involves 249.1 million shares, representing 5% of the company's total shares.

Parsian Oil and Gas Holding confirmed that this move fulfills a commitment to bring the company to the capital market and completes the holding's goal of listing its manufacturing companies. The company maintains an annual production capacity of 870,000 tons of polymer and chemical products and is a significant domestic producer of polystyrene.

As the IPO date approaches, the base price per share has been set at 61,321 Rials, with an order registration range between 57,642 and 65,000 Rials. The final price will be determined through a price discovery process. The company is also managing several ongoing development projects, including a heavy polyethylene project with a 310,000-ton capacity.

The IPO has since concluded, setting a record for investor participation in the Tehran Stock Exchange for the year 1405. The offering attracted over 2.01 million purchase orders, with the final price established at 65,000 Rials per share. Following the allocation process, 2,005,211 trading codes were assigned the maximum allocation of 134 shares each. Tabriz Petrochemical, which operates more than 20 units, is the 631st entity listed on the exchange.

Following the listing, Ghadir Investment Group identified the IPO as a strategic move to increase transparency and accountability within its subsidiaries. Mehdi Zahmatkesh, CEO of Ghadir Investment Group, stated that bringing subsidiaries into the capital market allows investors to more accurately evaluate company performance. The group intends to expand the presence of other subsidiaries in the stock market, with future planned offerings including Aluminium Jonoub, Ghadir Neyriz Steel, Mand Dashti Cement, and Sepid Shargh Cement.