TEHRAN, Iran, Nov. 5
Trend:
Iranian First Vice President Eshaq Jahangiri announced the amendment to the government's transfer of its shares in Exchange traded investment funds (ETF).
In order to transfer the ownership rights of the shares of each of the Exchange traded investment funds (ETF), the government amended the decree on the transfer of government shares in the said funds, Trend reports citing IRNA.
Under the amendment, all equity ownership, including dividends, pre-emptive rights and bonus shares, will belong to the respective ETF and the privatization organization is obliged to transfer the property rights to the fund.
Tehran Stock Exchange (TSE), which is the main stock exchange of Iran, listed the first exchange-traded fund (ETF) from a series of three ETFs on May 2.
The shares to be offered via the above mentioned Iranian ETFs belong to those governmental bodies defined in Iran’s privatization program, a comprehensive plan seriously followed up by the government to downsize and reduce its role in the economy.