The Iranian stock exchange has drawn 350 trillion rials (about 8.33 billion dollars) in cash since the start of the current Iranian calendar year (March 20), the stock exchange’s general manager told ILNA.
Stressing that the stock market welcomes the IPO of companies, Ali Sahraei said “We organized the IPO of Shasta although it was a very complicated process.”
The Iranian stock market experienced its largest public offering on April 15, when the Social Security Investment Company (SSIC, also known by its Persian acronym Shasta) offered eight billion shares, which represent 10% of its holdings, to sell them in Tehran. Exchange.
Shasta is the investment arm of the Social Security Organization, which provides health rights and retirement benefits to large numbers of Iranian middle and working-class members.
Responding to a question about the number of IPOs planned for the current year, Sahraei added “We are trying to have more IPOs this year compared to the previous year when it is important that large and strong companies offer their actions.”
While the last Iranian calendar year has been very successful for the TSE, the market also maintains its successful performance for the current year, and the notable fact is that other economic sectors are trending down due to of the coronavirus pandemic. .