Financing of 2 Hemti Bahman engines next Sunday/ Abahman symbol was inserted – Tejaratnews
According to Tejarat News, the details of the release of the car’s self-issued bonds in the Commodity Exchange have been determined.
According to this report, Bahman Motor Company will issue 2 thousand billion tomans worth of standard parallel bonds of Van Kara 2000 single cab in the Iran Commodity Exchange with a maturity of two years in order to provide working capital. Also, the “Abhman” symbol is now included in the trading system of Tehran Stock Exchange Technology Management.
According to the announcement of the management of derivatives markets and commodity funds, the initial offering of the standard parallel bonds of the 2000 van car of Bahman Motor Company under the symbol “Abhman” in the number of 6 million 865 thousand contracts and at the price of 2 million 913 thousand 328 Rials per contract through Apadana brokerage company on Sunday 23rd of February from 10:30 to 11:00 a.m. pre-opening period, 11:30 to 12:30 normal trading period and its secondary trading will continue from 24th of February 1401 to 23rd of February 1403.
It should be noted that every thousand contracts is equivalent to one car.
According to this announcement, the offering of these bonds is in the opening method, and if at the end of the initial offering period, part of the bonds are not subscribed, the underwriter is obliged to buy the remaining bonds at the price set in the market. In addition, if at the end of the initial offering period, no part of the subscription of the bonds is done, the underwriter will be obliged to buy the bonds at the base price.
Also, the volume of the initial supply has been determined to be approximately 6,153 cars, vans, and 2,000 single cabins (provided that the value of the bonds does not exceed 2,000 billion tomans).
The price of the basic asset in the initial supply is determined based on the average of the latest prices of 2000 single cabin vans traded in the Iran Commodity Exchange or the latest inquiry price from the authorities approved by the Commodity Exchange. Since the initial supply is an opening method and the reopening price is based on supply and demand, the purchase price of each forward contract may be different from the base price in the initial supply, but the base price is used as the basis for calculating the exercise price in the option of secondary sales, the exercise price The purchase option will be placed.
According to the release announcement, the purchase price of the market maker in secondary transactions with market management is the market price method with a quote range of 2%.
The yield of these bonds at maturity can be explained in two ways. If the bond holders exercise their selling option at the price of 136% multiplied by the base price in the initial offering, these bonds will have a return of at least 36% at maturity for two-year investors. However, if Bahman Motor Company exercises its purchase option at a price of 144% multiplied by the base price in the initial offering, the yield at maturity will be a maximum of 44%.
According to the announcement of the offering, the maturity of the bonds is two years after the initial offering.
It should be noted that Abhman’s symbol is defined in the system of the Tehran Stock Exchange Technology Management Company and is ready for trading since Sunday.
Source: news