TEHRAN,Iran, May 6
Trend:
The 'Justice Shares' in Iran are currently at the managing stage and are unlikely to be traded on stock exchange early, stock market expert Homayoun Darabi told Trend.
The 'Justice Shares' was the byproduct of government privatization plan, with each share worth 10 million rials (about $238). According to Article 44 of the Constitution, 80 percent of public companies in Iran were to be transferred to public ownership.
Some 40 percent of the shares of privatized public assets would be offered for privatization through the Tehran Stock Exchange, according to earlier reports.
Darabi said the instructions regarding the trade of the Justice Shares are available online on Iranian government's website.
"The shareholders can directly enter the online Justice Share system and choose the option to manage their shares or choose investment companies to trade their shares instead," he said.
"In the future, the portfolio of companies that are linked to the Justice Shares will be announced, and this will add value to the shares," Darabi said.
"First, the individuals should have a 'stock code' from the stock exchange system to trade and transfer parts of their shares," he said. "In case shareholders choose an indirect option to trade their shares via investment companies, they can be part of trade of these companies."
Darabi said the users can log into the system to find more information on their debts, value of their properties and profits.
"At the moment buying or selling 'Justice Shares' is not possible and only the process of shares' management can be selected," he said.
"At the moment dealers are not able to do anything with regards to trading shares since the ownership of 'Justice Shares' belong to each individual and it's not officially allowed to assign them to another person so it's unlikely that anyone can buy shares and in the near future the value of shares will increase," he said.
"It is recommended that individuals would keep their properties, since they may encounter losses if they rush to sell valuable shares," Darabi said.