Initial Public Offering (IPO) of TOSEE FANAFZAR TOSAN Co. shares with trade symbol “FANAFZAR” was completed in Iran Over-the-Counter (OTC) market also known as Iran Fara Bourse (IFB) on Monday August 7, 2023.

Company directors were present at IFB building along with Operation and Supervision Deputy of IFB as Tosan Techno officially entered Iranian stock market as the 9th new company.

Initial offering of Tosan Techno shares was completed in a mixed method of two phases where 4% or 60 million shares were first opened for bid by qualified institutional buyers (QIBs) including Investment and balanced funds for price determination purposes that led to a final offering price of 13,780 IRR for each share. 52 funds participated in this phase.

Total of 8% or 120 million shares were offered to retail investors including more than 1,487,000 real and 2,172 legal people at the discovered price of 13,780 IRR.

TOSEE FANAFZAR TOSAN Co. was first accepted in IFB on July 19, 2022 and after fulfilling all requirements was listed on IFB on January 2, 2023 as the 290th company (184th company in second market) to be accepted.

With a capacity of annually producing 400 thousand e-payment terminals, 2000 banking machines, Tosan Techno is the biggest developer of e-payment and banking machines in Iran with 85 service centers across the country. Tosan Techno enjoys 35% share in Iran e-payment terminal market and 90% in automated banking machines. Our products are used in more than 16 banks and 90 e-payment companies.