TEHRAN- Iran’s stock market witnessed its largest-ever initial public offering (IPO) on Wednesday.

As reported by domestic media, Social Security Investment Company (SSIC, also known by its Persian acronym Shasta), Iran’s major state-owned investment company, offered eight billion shares, which account for 10 percent of its stakes, for sales at the Tehran Stock Exchange (TSE), Iran’s major stock market.

Each institutional or individual trader could buy a maximum of 10,000 shares, by placing an order through the book-building method, according to a notice published on the TSE website.

Shasta is the investment arm of the Social Security Organization, which provides healthcare entitlement and pension benefits for a large proportion of Iran’s middle and working-class members of the labor force.

MA/MA