Shares of 50 private companies to be offered in stock market

August 26, 2020 - 11:56

TEHRAN- Iranian Finance and Economic Affairs Farhad Dejpasand said that according to the agreement made between his ministry and the Ministry of Industry, Mining, and Trade, the shares of 50 private companies are planned to be offered in the stock market, IRIB reported.

As announced by the head of Iran’s Securities and Exchange Organization (SEO), the capital market has provided one quadrillion rials (about $23.809 billion) of financing during the first four months of the current Iranian calendar year (March 20-July 21).

Hassan Qalibaf-Asl said that the figure is over three times more than that of the same period of time in the past year.

“Our plan is that the prosperity in the secondary market, which is the capital market, will be led toward the primary market and production sector”, the official noted.

Qalibaf-Asl had previously announced that the amount of liquidity absorbed by the capital market reached 500 trillion rials (about $12 billion) during the first quarter of the current year (March 20-June 20), while the total amount of liquidity entered into this market stood at 300 trillion rials (about $7.14 billion) during the past year.

He noted that the high amount of liquidity that is entering the capital market has provided some good opportunity for this market, as it’s being developed and flourished, for the enterprises, as they’re securing their required funds, and also for the government.

“Until the previous week, we had just one IPO (initial public offering) on Wednesday every week, but in the previous week, two IPOs were held. The value of IPOs stood at 53 trillion rials (about $1.261 billion) in the previous [Iranian calendar] year, while the figure has been 137 trillion rials (about $3.261 billion) just in the first four months of the current year”, the SEO head announced on August 3.

MA/MA

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