Tehran Stock Exchange IPOd First State-Owned Refinery Co.

On 29 June 2008, In compliance with the privatization scheme, five percent of equity shares of stateowned Esfahan Oil Refining Co (Equivalent of 208,112,905 shares of company) first time after listing, was offered by the government on Tehran Stock Exchange at the price of $ .62 per share with the total value of $129 million. This IPO exercise would be continued; 15 percent of Esfahan Oil Refining is going to be offered by government in coming days.