Unseen rush for SHASTA shares

Financial Tribune – More than two million investors took part in the initial public offering by the Social Security Investment Company on Wednesday – a development unprecedented in the history of Iran’s bourse.

The largest holding company, known by its Persian acronym Shasta, offered 8 billion shares on the Tehran Stock Exchange that was warmly welcomed by investors. Each share was priced around 8,600 rials.

Shasta generated 69 trillion rials ($437 million) from the sale to become the 335th company listed with the TSE, according to TSE managing director, Ali Sahraee.