Title: Data’s IPO Set for November 19th: Key Details for Investors Revealed
Article:
IPO Date and Core Details Announced
The initial public offering (IPO) for the company Atra Zist Aray, known by its ticker symbol “Data,” has been officially scheduled. The IPO is set for Wednesday, November 19, 2024, marking the ninth such offering on the Tehran Stock Exchange for the current Iranian year. This significant financial event will take place on the main board of the TSE’s secondary market.
A total of 355,584,063 shares, representing 9% of the company’s total shares, will be offered to the public using the book-building method.
Investment Requirements and Pricing
A primary focus for potential investors is the capital required to participate. Each individual or legal entity is eligible to subscribe for a maximum of 1,185 shares. The price range for each share has been set between 3,336 Rials at the floor and 3,796 Rials at the ceiling.
To ensure share allocation, investors are advised to place their orders at the maximum price ceiling. This would require a maximum liquidity of approximately 449,826 Tomans (roughly 450,000 Tomans) in their brokerage accounts to cover the full subscription.
Expected Allocation and Strategic Advice
Market analysts anticipate high participation. In a scenario with around one million participants, the estimated allocation per investor could be around 355 shares, requiring a final payment of approximately 135,000 Tomans. However, funding an account with the full 450,000 Tomans is strongly recommended to guarantee a successful and error-free order registration.
The Role of the Underwriter
To bolster investor confidence, the offering includes a commitment from the lead underwriter, Omid Investment Bank. This entity has guaranteed to purchase any remaining shares not sold during the IPO, ensuring the process is conducted smoothly and in full compliance with market regulations.
Key Steps for Participation
Prospective investors should note the following critical steps:
- Place the share order precisely at the price ceiling of 3,796 Rials.
- Ensure a minimum of 450,000 Tomans is available in the linked brokerage account.
- The order registration window is expected to follow the pattern of previous IPOs, typically between 10:30 AM and 12:30 PM local time.
- The final share price will be discovered after the order book closes, and allocations will be made systematically and equally to all successful participants at that single, discovered price.