The move follows more than a year of preparation and policy backing from the Teachers’ Reserve Fund, Petrofarhang’s parent institution, according to the holding’s head of public relations and brand development.
The admission request was approved conditionally by the OTC board on Aug. 21, enabling the execution of one of Petrofarhang’s key capital market strategies after 18 years, the official said. The step was achieved through cooperation between Petrofarhang, Energy Sepehr and Sebalan companies.
The opportunity emerged after last year’s integration of the Dena project into Sebalan Petrochemical, which paved the way for the current listing, the official added.
Petrofarhang plans to expand its market presence further by floating shares of its other subsidiaries, including Iranian Power Process Management Co. (Mafna), Marjan Petrochemical and eventually Petrofarhang itself.
Sebalan Petrochemical began operations at its first methanol production phase in 2021 and is preparing to launch its second phase this year, raising its nameplate capacity to 3.3 million tonnes annually.