Iran bourse to speed up listing process

TEHERAN - Iran will speed up the process of listing companies on its stock market and introduce corporate bonds to the trading floor.

By (REUTERS)

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Sun 4 Apr 2004, 12:20 PM

Last updated: Thu 2 Apr 2015, 11:33 AM

The listing process would be cut to 45 days over the year, bourse chief Hossein Abdoh Tabrizi was quoted as saying in the pro-reform Sharq daily yesterday.

"In the past it took as much as two years," he said.

In February Iran allowed foreign investors to trade on the market, which more than doubled in value last year.

There are also plans to start trading in plots of land and the floor area of property.

Iran's stockmarket is the prime money haven for investors looking to beat 16 per cent inflation.

New construction rules have deterred investors from putting their money into property, the only other major investment opportunity in recent years.

Abdoh Tabrizi said market liquidity would be raised by easing a rule suspending shares that rise or fall more than five per cent from their opening price.

Iran stock exchange lists 382 companies valued at around $38 billion.

The market has jumped since the March 20 Persian new year holidays, with the TEPIX all-share index climbing five per cent to 11,747 from 11,185 just before the holiday.



More news from