Kourosh Food Industry, joins Iran Stock Exchange
After a long time waiting, Gh/Kourosh went through an initial public offering on May 26th.
During a ceremony which was held in Tehran Stock Exchange building and attended by a group of senior managers of Golrang Industrial Group, Kourosh Investment Group, and Kourosh Food Industry company, Mr. Montaser CEO of KFI company was given the honor of ringing the opening bell for trading stock exchange for the current week.
In the ceremony, alongside explaining the latest financial status of the company, KFI CEO stated that today 8% of KFI stock has been released. He added that “the necessary support for the stock price will be provided and the offering will be done gradually according to the market conditions”.
He, then clarified that “the resources provided by the initial public offering will indeed be spent in line with the development goals of the company”.
The CEO of Kourosh Food Industry Company added that as one of the main producers of edible oils, they are fully confident in the growth of their stocks and have guaranteed up to 25% of their shareholders’ profits by using bonds with an embedded put option.
A related point to consider is that the offering was welcomed by more than 2 million and 356 thousand trading codes and 74 shares were allocated to each trading code.