Iran's Pasargad Group Weighs $330 Million IPO of Energy Unit - Bloomberg:
"Pasargad Financial Group, owner of Iran’s second-largest bank, is weighing the sale of shares in its energy unit as the removal of sanctions boosts confidence in the economy.
“We’ll likely IPO some of our companies this year, like PEDC,” Majid Ghassemi, chairman of Pasargad Energy Development Co. and CEO of Pasargad Bank, said in an interview in Zurich, Switzerland, where he was attending a conference on investing in Iran. The IPO could take place in the current Iranian year, which ends March 2017, “or latest, next Iranian year,” he said, adding the listing may raise about 10 trillion rials, or $330 million, through a sale on the Fara Bourse -- Iran’s junior market.
PEDC is involved in oil and gas exploration as well as refining. The company is working on approximately $12 billion of energy projects, including the construction of a $2.2 billion gas line to neighboring Iraq, Ghassemi said.
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