According to the Persian Gulf Petrochemical Industries Company (PGPIC), during the first hours of the Saturday session of the market, Noori Petrochemical Plant’s stock market launch registered a new record as over 562,000 unique trading codes participated in the IPO.

The company’s stocks began at IRR 31,250 and each code could purchase a maximum of 533 shares.

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.