RoydadNaft –  Taban Farda Petrochemical Group posted a strong return in its first month on the capital market, only 31 days after listing. Published figures put the share’s return, including the general-meeting cash dividend, at about 80%.

According to Roydad Naft, a report on Taban Farda’s trading performance said an investment of about 4.7 million tomans at the IPO grew to about 9.46 million tomans in the first month on the market — a figure the report presents as a return close to 100%.

Higher trading value and market cap

The performance was not limited to the share return. Average daily trading value in the ticker reached about 800 billion tomans, and market capitalization rose from about 384 trillion tomans to 673 trillion tomans.

Those figures made Taban Farda one of the market’s closely watched names in its first month on the exchange.

More shareholders

According to Avaye Jonub, the number of Taban Farda shareholders rose from about 2 million at the IPO to nearly 2.289 million, a sign of wider investor participation in the stock.

Even so, an accurate reading of investor returns depends on purchase price, entry timing, the cash dividend, and share-price moves. The stated return is not necessarily the same for every shareholder.