Tehran- The ticker symbol of Iran Glass Wool Company, KAPSHIR, was transferred from the secondary market to the sub-board of the primary market following a notification by the Tehran Stock Exchange.

Tehran Stock Exchange approved that the requirements for the transfer of the shares from the secondary market to the sub-board of the primary market were met considering the company’s latest audited financial statements and other conditions listed in articles 12 to 15 of the rules of the capital market listing, the public relations of Iran Glass Wool Company reported on Monday, October 2.

Iran Glass Wool Company, a public limited company, has been a member of the Securities and Exchange Organization (SEO) since 1990. The company is operating under the stock symbol of KAPSHIR.

Iran Glass Wool Company offered 80 percent of its glass wool products in the Iran Mercantile Exchange, aiming to trade in a consistent legal market and targeting the removal of the intermediaries. The company was able to sell 3,135 tons of its glass wool products in the first five months of this year to March 19, 2024, at the value of 1,580bn rials in this market.

One of the important measures of the company was that it had managed to set records in production and sales this summer. Iran Glass Wool Company registered the highest production record of the last 60 years with the production of 1,079 tons of glass wool from March 21 to August 22, 2023.  This company reached a growth of 20 percent in exports and domestic sales during March 21-August 22, 2023 compared to the same five months of the last year with a record sale of 4,841 tons of glass wool.

Iran Glass Wool Company is one of the subsidiary companies of Sadr Tamin Investment Company (TASSICO), which supplies 70 percent of the country’s glass wool with an annual production of 20m square meters (10,000 tons). The company’s development plan to build a factory in the Special Economic Zone (SEZ) of Shiraz is advancing rapidly now.