1.4 Million Investors Participate in Shams Pasargad IPO

TEHRAN (PEDC) -- A portion of shares in Shams Pasargad Power Generation Company was offered on the second market of Iran's over-the-counter (OTC) exchange, Farabourse.
According to the public relations office of Pasargad Energy Development Company (PEDC), quoting Farabourse, 12% of the company’s shares were offered through a mixed pricing method on January 23, with the price discovered at 3,405 rials per share.
The IPO was conducted in two stages. In the first stage, 4% of the company’s shares—equivalent to 160 million shares—were sold through an auction process from 9:15 a.m. to 11:15 a.m. A total of 115 equity and mixed investment funds participated in this stage, with a purchase cap of 1.8 million shares per fund.
In the second stage, an additional 8% of the company’s shares—equivalent to 320 million shares—were offered to retail and institutional investors at the fixed price discovered in the first stage. This phase began at 12:30 p.m. and concluded at 2:30 p.m. Reports indicate that 1,400,775 retail investors participated in the second stage, with a maximum purchase limit of 600 shares per investor.
PEDC, as one of the largest players in Iran’s energy sector, leverages its specialized subsidiaries to play a significant role in the country’s sustainable development and energy supply. The successful listing of Shams Pasargad Power Generation Company marks another milestone in the group’s long-term strategy to engage in the capital market and strengthen the infrastructure of Iran’s electricity industry.