TEHRAN, Iran, Aug. 23
Trend:
The Head of Tehran Stock Exchange (TSE) Ali Sahraie called for reform of operations and financial statements for car companies.
The CEO of Tehran Stock Exchange assessed the main problem of the automotive industry in the country, calling the government`s mandatory pricing as the main issue, Trend reports citing IRNA.
“Car manufacturers must sell the assets that are not in line with their chain of activities,” he said.
Noting that shareholders have a special view of the capital market for investment, he added that the government interference in the pricing policies must be stopped.
In order for small shareholders or funds to participate in financing the industries, he says that the companies are obliged to reform their structures.
"The automotive industry is welcomed by small shareholders," said Sahraie "Two Iranian large automakers, including Iran Khodro and Saipa, had high accumulated losses for two consecutive years, which is alarming."
He announced that the Pars Automotive Company also had significant losses for three consecutive years.
According to IRNA, recently, the head of the Stock Exchange and Securities Organization called the capital market to help finance the production chain of the automotive industry.