In a meeting dedicated to the introduction and offering of the company's shares, Tabriz Petrochemical announced that, as part of the agreement made, the offering of 15% of its shares is on the agenda. Mirashrafi, the CEO of Tabriz Petrochemical, explained that 5% of the shares will be offered on the first day, and the remaining 10% will be transferred later, depending on market conditions.
Participation of Shareholder Groups
This offering will take place with the participation of six shareholder groups, including Tabriz Oil Refining Company, investment companies, and entities affiliated with the Ministry of Defense, the National Retirement Fund, and Tousan. Mirashrafi mentioned that the final details regarding the timing of the second phase of the offering will depend on the conditions of the divestment program's implementation.
Read more: Mohammad Salehi Dolabi appointed CEO of Oil Exploration Operations Company
Damage Incurred and Raw Material Supply
Mirashrafi also referred to the damage incurred to the butadiene unit following the recent attack and stated that experts are still finalizing the assessment of the unit's value and the extent of the damage. He emphasized that the supply of raw materials is also facing challenges in these conditions, but Tabriz Petrochemical, with the arrangements made, has prioritized sourcing some of its required raw materials from Bandar Imam Petrochemical.
The CEO of Tabriz Petrochemical announced that the company is currently receiving about 10 tons of ethylene per hour and mentioned sourcing from Pars Petrochemical to meet part of its material needs. This supply is based on the regulations and prices set by the National Petrochemical Company.
Export Growth and Equipment Supply
Mirashrafi also reported a 300% growth in the exports of Tabriz Petrochemical's products compared to last year and stated that the company is currently facing supply capacity limitations to meet export orders. He emphasized that Tabriz Petrochemical will continue to supply the necessary equipment and parts even under sanctions and hopes that these limitations do not lead to changes in production trends.
The CEO of Tabriz Petrochemical noted that about 70% of the company's production is offered on the Iran Commodity Exchange, while the remaining 30% is allocated to export markets, highlighting product quality as one of its competitive advantages.
