A new company was listed on Tehran Stock Exchange (TSE): The Capital Value Management Group, the Financial Holding of the Civil Servants Pension Fund (CSPF) made stock market debut on Wednesday, 16 June 2021.
Today, the number of one billion and three hundred and fifty million shares, representing 15% of total equity shares of the Capital Value Management Group, the Financial Holding Company of the Civil Servants Pension Fund, under the ticker ‘VMDR’, were offered publically on Tehran Stock Exchange. Out of the total floated equities, 900 million shares were offered to the public on 16 June 2021; and the rest 450 million shares will be offered to the Investment Funds on Saturday, 19 June 2021.
The IPO ceremony celebrating the 374th company currently listed on TSE’s market will be broadcasted online via the official channel of TSE on https://www.aparat.com/tse.ir.
After the price discovery carried out through book-building method, the equities were traded at IRR 2,990 per share, and more than 2,500,000 investors participated in the IPO.
Civil Servants Pension Organization (SCPO) is the second largest pension fund in Iran whose premiums are paid by state and government organizations. It operates as an independent body under the auspices of the Ministry of Cooperatives, Labor, and Social Welfare. The organization manages the retirement affairs of civil servants.
The newly listed financial holding is one of the pension fund’s six major holdings. It manages investment portfolios and non-controlling ownership stocks of CSPF, by investing in banks, insurance firms, leasing companies and other financial activities.
The issuer company listed on TSE’s second market, under the industry sector of “other financial intermediaries” and expects to generate 4 trillion Iranian Rials ($17 million) from the IPO.
