The opening of Damavand Petrochemical Sector Investment Fund was held today during a ceremony as the first sector fund tradable on the OTC.
According to this report, Damavand Petrochemical Sector Investment Fund resumed its transactions in the market of new financial instruments with the approval of the Stock Exchange Organization after changing the structure of the fund from today under the symbol "Petroma".
Bakhshi Damavand fund has previously been present in the Iranian stock exchange under the name of Damavand Minay Gonbad tradable investment fund. A stage of pre-opening was again included in the trading circuit today.
In this way, during today's trading, after the opening of the "Petroma" symbol, this fund faced an increase in the price of investment units, and the final price of Petroma was recorded at 15,486 Rials. Also, more than 820 thousand units of this fund worth more than 12 billion Rials were traded. 74% of Petroma's purchases were made by real investors and 25% by legal entities. Also, on the sales side, 87% of legal professionals were salespeople.
CEO of Damavand Capital Supply: Development of indirect investment with sector funds
Meysam Fadaei, CEO of Damavand Capital Fund, in an interview with "Fara Media", pointing out that the Damavand Petrochemical Sector Fund was launched in order to complete the chain of Damavand investment funds, said: Petroma is a new tool in the capital market with the aim of developing indirect investment in the industry. Key and Grand Petrochemical has started to operate.
He introduced the founders of this fund, Damavand Capital Funding and Atizad Ghadir Investment Companies, and regarding the field of activity of this fund, he stated: With the presence of various petrochemical companies in Ghadir Holding Group, as well as the accumulated knowledge in the field of derivatives in Damavand's capital provision, this fund is established in Both areas of cash transactions and stock derivatives of petrochemical companies should be active.
Referring to the petrochemical group as a diverse and attractive industry in the capital market, Fadaei said: Damavand Capital Fund is doing its best to collect a selection of the best shares of this industry in Petroma's portfolio by managing specialized assets in the Damavand Petrochemical Sector Fund. Also, by entering the field of buying and selling options, it will create better returns for investors.