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| Current status of Tehran Stock Exchange’s listed companies |
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On 1st September 2013, the number of listed companies in the TSE reached 314 companies with accepting and offering shares of a new investment company.
The newly listed firm, “SEKAB” has established in June 2004 and the company’s listing has increased TSE’s market capitalization to 118 Billion USD.
According to the Iranian calendar, in current year, four companies listed in the TSE and 13 companies delisted in the same period because of nonconformity with listing requirement in the TSE.
Now, according to the ISIC method, 314 listed companies are classified in 36 classes which in terms of the number of listed company, cement, vehicle, pharmacy and petrochemical groups respectively have maximum number of companies. In terms of market capitalization, some groups like petrochemical, oil refining, basic metals, banks, mining and holding companies located in the top.
According to the listing rules of Tehran stock Exchange, companies are classified in 2 markets, in which one market has two boards. Each boards and markets have different requirements. Companies in main board of first market must have at least 40 million USD as capital and at least 20 percent of its share should be floated. These requirements in secondary board of first market and second market are respectively around 20 and 8 million USD as capital and 15 and 10 percent as free float.
Based on the latest checking, 60 companies are listed in main board of first market and 61 companies are listed in secondary one and the others located in second market.
Tehran Stock Exchange has annual scrutiny in each June and will changes companies’ position if they lose the requirement of each market or board.
There are different indices in the TSE such as Index of 30 biggest companies, Index of 50 active companies, Index of first market’s companies and Index of second market’s companies and so on.
In spite of trading common stock, there are other financial instruments in the TSE to trade. One of those is rights that it is possible to trade for 2 month after capital raising. Moreover, it’s possible to trade participation bond (kind of Islamic bond) in Tehran Stock Exchange. Now, there are two bonds listed such as Shiraz municipal bond and Saipa (biggest vehicle company) which are being traded in the TSE with the rate of 20 percent.
Single Stock Future is another instrument in Tehran Stock Exchange. This financial instrument has been lunched 4 years ago and now there are 18 symbols of it with a two-month maturity to trade.
According to ratification of ETF’s regulation by SEO (Securities and Exchanges Organization) there will be possibility to trade on ETF in near future.
Based on trading volume, oil refining companies, petrochemical, basic metals and banks are the most popular by investors in recent days in the TSE.
(1USD = 24500 IRR)
Rouhollah Hosseini Moghaddam
Director of listed companies affairs
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