Iranian poultry giant launches IPO at Tehran Stock Exchange
Seamorgh, the largest poultry production in Iran and Middle East, has launched an initial public offering at Tehran Stock Exchange. 10% of the company's shares were offered and The applicant had the option to buy 400 shares that worth about $157,142 in the market.
Seamorgh is the largest egg and one-day-old chicken in the region and its controlled by Agriculture Bank of Iran. The IPO is a part of the company new financial strategy to expand its export capacities, according to official sources inside Seamorgh. "Considering the increase of production and exports to neighbor countries, the company's policy is to expand and increase exports. The company has produced some 47,000 tons of eggs in the past nine months of the last Iranian year (started March 21, 2018)," said the company's financial manager, according to MENAFN website.
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