Swedish Firm to Launch IPO for Investment in Iran

A senior official with a Swedish firm said the company plans to launch an Initial Public Offering (IPO) to raise finance for investment in Iran.

Pomegranate Investment AB is looking to launch the first IPO to raise capital for investment in Iran, Florian Hellmich, the chief executive of the firm, said as cited by Reuters on Monday.

He added that the company has so far raised 80 million euros ($91 million) from European investors since 2014 for investment in Iran as it had anticipated the sanctions removal.

We hope to launch the IPO in Sweden within 12 months for invest‎ment in Iran’s technology sector, the official further said.

“This (Iran) is also where the opportunity is – everyone could have done the work we have done, but nobody has,” Hellmich added.

According to the report, US and Canadian citizens and corporations will be excluded from the offer.

(Source: Tasnim, under Creative Commons licence)

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