British companies negotiating to invest in Iran’s capital market

Business Materials 17 April 2015 14:22 (UTC +04:00)

Baku, Azerbaijan, Apr.17

By Fatih Karimov - Trend: Two British companies are negotiating to invest in Iran's capital market, Reza Soltanzadeh, chief executive officer of Iran Industries Investment Company said.

"We are negotiating with two British companies to inform them of the methods of investment in Iran's capital market," Iran's IRNA news agency quoted Soltanzadeh as saying on April 17.

There are currently several legal entities negotiating with us to receive information about Iranian companies, he added.

In general, foreign investors pay more attention to petrochemical, banking, financial, telecommunication, as well as fast moving consumer goods companies, he explained.

Foreign investors see huge potentials, which could turn Iran to a regional economic powerhouse overnight.

A deal between Iran and the P5+1 group of countries will pave the way for the end of sanctions, which include asset freeze and ban on transactions through the international banking system.

A British asset manager is the first Western entity to invest in Iran following a recent nuclear understanding, with more international investors expected to flock to the country.

London-based Charlemagne Capital, with about $2.5 billion under management, has teamed up with financial services group Turquoise Partners in Tehran to invest in Iranian equities.

They plan to set up funds in different sectors such as oil and gas, banks and retail.

Charlemagne Capital, which focuses on emerging markets, sees Iran as one of the best opportunities for investors, its portfolio adviser Dominic Bokor-Ingram has said.

Edited by CN