{"id":5516,"date":"2018-07-04T12:02:55","date_gmt":"2018-07-04T12:02:55","guid":{"rendered":"http:\/\/en.azpar.com\/?p=5516"},"modified":"2018-07-04T12:08:29","modified_gmt":"2018-07-04T12:08:29","slug":"qadir-petrochemical-went-public-on-iran-fara-bourse","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=5516","title":{"rendered":"Qadir Petrochemical went public on Iran Fara Bourse!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 Holding IRR 1,300 bn in capital, today, 10% of Qadir Petrochemical (PGHZ1), as a subsidiary to\u00a0Tamin Petroleum and Petrochemical Investment Company\u00a0(PTAP1), equal to 130,000,000 shares went public on the Chemicals space in\u00a0Iran Fara Bourse\u00a0through the\u00a0book building method; each share price could range between IRR 1,650-IRR 1,700 and each trading code, both individual and institutional, were allowed to put an order for 2,600 shares.\u00a0<\/span>The company lies within the few PVC producing companies in the world which have exceeded their nominal capacity. It has planned to export 50-60% of its production in the current year; in fact, it used to export products to CIS zone countries, India, Turkey and African countries before sanctions imposition<\/p>\n

\u2013 As attempts to reform the\u00a0recently implemented unified foreign exchange policy\u00a0in the country, i.e. putting the USD\/IRR at 42,000, which proved to be ineffective with regards to the huge demand for import at this rate, the government announced a 48-hour countdown (now only 24 hrs. left) to the official launch of the\u00a0foreign exchange secondary market\u00a0in the stock market the other day; this measure, which will provide trading the foreign currency at negotiated rates, is hoped to bring back peace to the economy.<\/p>\n

\u2013 With its previous licenses being revoked by the US Treasury Department\u2019 OFAC due to the US pullout from the JCPOA, the Franco-Italian ATR Company has now applied for a new export license from this body to deliver the final 12 ATR 72s airliners to Iran Air Co. in 2018.<\/p>\n

\u2013 As the result of President Rouhani and his accompanying delegations\u2019 visit to Switzerland, three cooperation agreements were signed between the two countries on road transport, health and scientific areas.<\/p>\n

In the Market<\/strong><\/h2>\n

The stock market ended an abbreviated Wednesday session on a disappointing note, falling victim to\u00a0the last day\u2019s emotional trades. The\u00a0TEDPIX ended narrowly above its flat line closing near its worst mark of the day. The IFEX (+0.21%) also slid and finished 1,252.84.<\/p>\n

An official in Saipa Company announced the weekly settlement plan to spare part mfg. companies as well as the divestiture of such companies to competent buyers. As the result, the spare part mfg. companies\u2019 tickers were highly demanded with Nirou Mohareke and Khavar Spring Mfg. facing buy queues. The majority of names in the\u00a0Automotive<\/strong>\u00a0group eventually saw a rise in demand, touching their ceilings, led by Saipa.<\/p>\n

The\u00a0Oil Products<\/strong>\u00a0space went through negative trades; following the news breaking out on the water deficit problem in some provinces, which might endanger Esfahan\u2019s Oil Refining activities, even higher sales pressure was seen in the group; while the rumor has it that the company is now shut down, a company official explicitly rejected it.<\/p>\n

Despite a strong start, the\u00a0Metals<\/strong>\u00a0space prices fell; only Arfa\u2019 Steel & Metal, South Kish Kaveh Steel and Khorasan Steel manage to keep their buy queues. Sepanta and Navard Alloy hit their highs at the final hour as well. Excluding Chadormalu Mining and Industrial, the entire Iron Ore space finished in the red, too.<\/p>\n

Finally, A committee made up of deputy minister of Health and the vice chairman of the Drug and Health Committee of Iran-Iraq has been formed to accelerate the import of domestically produced pharmaceuticals to Iraq. Nevertheless, the\u00a0Pharmaceutical<\/strong>\u00a0space did not depict any significant reaction to this news and ended today\u2019s session beneath its flat lines.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"Iran<\/p>\n

Source:<\/em><\/p>\n

2018, Qadir Petrochemical went public on Iran Fara Bourse!, Wednesday, July 04, p.1,<https:\/\/agahgroup.com<\/a>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 Holding IRR 1,300 bn in capital, today, 10% of Qadir Petrochemical (PGHZ1), as a subsidiary to\u00a0Tamin Petroleum and Petrochemical Investment Company\u00a0(PTAP1), equal to 130,000,000 shares went public on the Chemicals space in\u00a0Iran Fara Bourse\u00a0through the\u00a0book building method; each share price could range between IRR 1,650-IRR 1,700 and each trading code, both individual […]<\/p>\n","protected":false},"author":1,"featured_media":5520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-5516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5516"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5516\/revisions"}],"predecessor-version":[{"id":5522,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5516\/revisions\/5522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/5520"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}