European companies seek to invest in Tehran Stock Exchange

Business Materials 10 December 2013 12:21 (UTC +04:00)

Azerbaijan, Dec.10

By Fatih Karimov - Trend: The Securities and Stocks Organization of Iran (SEO) has received many requests from European companies to invest in the Tehran Stock Exchange, IRIB quoted the SEO managing director Ali Salehabadi as saying on Dec.10.

Due to the international sanctions against the country's financial system, there is no such possibility for foreign investors he added. But, thanks to the positive atmosphere in the international arena, it is hoped to see foreign investors in the country in the near future, he explained.

On Nov. 21, ISNA reported that the Tehran Stock Exchange main index (TEPIX) has gained 106 per cent since the beginning of the current Iranian calendar year (March 21).

The market value has exceeded 4000 trillion rials (about $161 billion based on the U.S. official exchange rate of 24,880 rials), according to the report.

Founded in 1967, the Tehran Stock Exchange has been one of the world's best performing stock markets recently and ranked as the best bourse index in Europe, Africa and Middle East in 2010 in terms of performance of the main index.

The TSE's annual growth rate of main indices also ranked second among all members of the World Federation of Exchanges (WFE).

The WFE is the association of 52 regulated exchanges around the world which aims to develop and promote standards in the markets.