NEWS
ECONOMY   Exchange & Stocks  

TCCIMA head calls on government to increase IPOs in stock market

The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) called on the government to increase the number of initial public offerings (IPOs) in the country’s stock exchange, IRNA reported on Tuesday.

Making the remarks during the first meeting of TCCIMA’s board of representatives in the current Iranian calendar year (began on March 20), Masoud Khansari also said, “We anticipate more realistic prices as well.”

He further noted that if the government transfers just the shares of state-owned organizations and companies, but the management will still remain in its own hands, it will create some problems in the long-term.

Khansari mentioned Shasta as an example in this regard, and said, “In terms of Shasta, we saw transferring of shares, but not the management.”

Iran’s stock market witnessed its largest-ever initial public offering on April 15, when Social Security Investment Company (SSIC, also known by its Persian acronym Shasta) offered eight billion shares, which account for 10 percent of its stakes, for sales in Tehran Stock Exchange.

Shasta is the investment arm of the Social Security Organization, which provides healthcare entitlement and pension benefits for a large proportion of Iran’s middle and working-class members of the labor force.

On Saturday, the managing director of the Tehran Stock Exchange (TSE), which is Iran’s major stock market, told ILNA that the country’s stock market has attracted 350 trillion rials (about $8.33 billion) of liquidity since the beginning of current Iranian calendar year.

Highlighting that the stock market is welcoming the initial public offering of the companies, Ali Sahraei said, “We held the IPO of Shasta although it was a very complicated process.”

Answering to a question about the number of IPOs planned for the current year, Sahraei said, “We try that more IPOs will be held this year compared to the previous year, while it is important that the large and strong companies will offer their shares.”

The law on the implementation of the general policies of Article 44 of Iran's Constitution on privatizing state-owned companies was declared in 2006 in a bid to downsize the government and promote the private sector’s role in the national economy.

The government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the state-owned firms each year. Under the present interpretation of Article 44, some state-owned companies have been privatized to reduce their financial burden on the country’s budget and also increase their productivity. 

News No: 9536
Date: 2020/05/19 - 22:54
News Source: دنیای بورس

initial public offerings  Tehran Chamber of Commerce  IPO  TCCIMA 

Comments:

Leave a Comment:

   
   
   
 

TCCIMA calls for resolving commercial ID cards issuance, extension problems

In a statement on Tuesday, Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) called on the Ministry of Industry, Mining, and Trade and also Trade Promotion Organization (TPO) to resolve the problems related to the issuance and extension of commercial ID cards, TCCIMA published on its website.
 

Shares of 50 private companies to be offered in stock market

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.
 

Govt., private sector discuss industrial sector challenges

The 69th meeting of the dialogue council of the government and the Tehran Province’s private sector was held at the place of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) to discuss issues and challenges faced by the country’s industrial units.
 

TCCIMA inks co-op MOU with Iran-Turkey Joint Chamber

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has signed a memorandum of understanding (MOU) with Iran-Turkey Joint Chamber of Commerce for cooperation in drawing a roadmap for expansion of trade between the two countries.
 

Developing Sistan-Baluchestan industrial parks atop agenda: ISIPO head

Head of Iran Small Industries and Industrial Parks Organization (ISIPO) said in a meeting with the governor of the southeastern Sistan-Baluchestan province, that developing the newly established industrial parks in this province are the ISIPO’s top priority for the current Iranian calendar year (started on March 20).
 

275 idle production units revived in Tehran Province in 15 months

A deputy in Tehran Governorate said that 275 idle production units have been revived in Tehran Province during 15 months since the start of the previous Iranian calendar year (March 2019).
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners