March 31, 2020
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Tehran Stock Exchange

The First Virtually-Conducted IPO at TSE
Tehran Stock Exchange
Posted: Thursday, 5 Mar 2020

The initial public offering of 910 million shares, equivalent to 13% equity shares of Mellat Investment Bank were conducted virtually at Tehran Stock Exchange. Reported by TSE’s PR and International Department, due to the sanitary concerns and protecting public health against the widespread outbreak of COVID-19, during a ceremony that was held virtually and broadcasted online via TSE’s official channel on https://www.aparat.com, the total number of 700 million shares were offered to the public on 4 March 2020, and 210 million shares will be offered to the Investment Funds on 7 March 2020. The equities were traded at Tehran Stock Exchange, after the price discovery at IRR 3,400 per share carried out through book-building method. The newly-listed company increased TSE’s total number of listed issuers to 333, adding up IRR 23,800 billion to the Exchange’s market capitalization. It should be mentioned that more than 1,680,000 investors participated in the IPO, setting a new record for public offerings in the Iranian Capital Market.
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