Initial Public Offering On Tehran Stock Exchange

On 3 Feb 2008, five percent of equity shares of Fanavran Petrochemical Co. has been floated in the Exchange through an initial public offering (IPO). This IPO exercise would be continued; another eleven percent of Fanavran stock is going to be offered by National Petrochemical Industries Co. in coming days.

Fanavran is the first petrochemical company that is in process of privatization, following-up the implementation of article 44 of Iran Constitution.

Fanavran produces Methanol, Carbon monoxide and Acetic Acid. The projects in process include Vinyl Acetate Monomer and Methanol To Propylene.