Public Offering Ahead for MAPNA Group’s Subsidiary on Iran Fara Bourse

MAPNA Iranian Power Plant Management Group, identified by the trading symbol “ومپنا”, is poised for an Initial Public Offering (IPO) of 15% of its shares on the Second Market of Iran Fara Bourse Co. (IFB).

The company, with a registered capital of 2 trillion tomans (equivalent to approximately $34 million based on the current exchange rate of 59,000 tomans per US dollar), was officially listed on July 3, 2024, as the 219th entity in the market.

The IFB’s admission board gave its approval in February, paving the way for MAPNA’s inclusion in a sector comprising firms engaged in the power, gas, and steam industries.

The forthcoming IPO will be initiated once the company’s shares are valued, in accordance with the assessments and opinions of the Securities and Exchange Organization and Iran Fara Bourse Co.

Established on June 14, 2016, the MAPNA Iranian Power Plant Management Group encompasses a consortium of seven companies, including MAPNA Qeshm Water and Electricity Generation Company, MAPNA Renewable Energies Generation Company, MAPNA Tous Power Generation Company, MAPNA Sanandaj Power Generation Company, MAPNA Asaluyeh Power Generation Company, MAPNA West Karun Power Generation Company, and MAPNA Genaveh Power Generation Company, alongside MAPNA Arman Parand Investment Fund. The formation of the MAPNA Iranian Power Plant Management Group was aimed at restructuring the financial framework of the overarching MAPNA Group. The move is intended to establish a dedicated power plant holding company, thereby sharpening its focus on core operational pursuits.

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