TEHRAN, Iran, June 29
Trend:
Tehran Stock Exchange will offer 650 million shares of Tamin Cement Investment Company for trade on Wednesday, Trend reports via IRNA.
This is the primary offering of 15 percent of the public company's shares. Each trader can purchase 800 shares from this company.
The increase of investment in the stock market has encouraged companies to sell their shares to provide for the financial sources and improve production.
So far, more than 90 percent of primary offerings in the stock market were profitable, so the stock exchange currently looks attractive to investors.
The government of Iran has recently provided support for the stock market, by offering its shares in public companies via the Exchange Traded Fund (ETF), and has also liberalized the ownership of so called 'Justice Shares' to people to trade at stock exchange and help low incomes.
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.
Earlier reports said some 40 percent of the shares of privatized public assets would be offered for privatization through the Tehran Stock Exchange.
Iran plans to offer shares of 15 subsidiary companies of the National Pension Fund through the stock exchange, alongside 12 railway and road projects, while it is expected to trade housing units per square meter.