Sarava’s European partner, Pomegranate, has successfully raised 60M euros of new capital from European investors and will be entering the Swedish stock market with an initial public offering (IPO) in the next 12 months.
Pomegranate Investment was founded in Sweden under the laws and regulations of the EU in 2014 by a number of entrepreneurial European investors with the intention of investing in Iran’s developing internet consumer technology market. Currently, Pomegranate’s shareholders consist of over 200 investors who are mainly Swedish, Austrian, Swiss, English and Central and Eastern European nationals who have purchased shares in a private offering.
The bulk of Pomegranate’s investment in Iran was done through capital increase and by purchasing a small number of shares, and thus increasing its stake in Sarava from 9.6% to 15%. After this investment, the majority of Sarava’s shares remain in the ownership of Iranian shareholders and the shares of companies that Sarava has invested in have not been transferred to Pomegranate. Pomegranate remains committed to transferring technical and management know-how as a condition of fulfilling this partnership.
This investment shows that Sarava is leading the way within the private sector in Iran and is gaining the trust of foreign investors in order to invest and develop Iran’s consumer technology sector for the benefit of Iranian consumers and entrepreneurs. Sarava believes that the success of Pomegranate’s IPO will create a greater sense of transparency in the company’s interactions with Iranian entrepreneurs and will showcase the opportunities that exist in Iran for international and local investors and entrepreneurs more than ever before.