US investors visit Tehran bourse
A foreign delegation of asset managers, including Americans, have visited Tehran Stock Exchange for the second time in recent weeks as interest is building in a country being billed as the latest attractive emerging market.
A group of 17 investment managers from Russia, Britain, Egypt, Greece, Switzerland, the US, Turkey, Italy and the UAE visited the bourse on May 25 and held talks with its chief Hassan Qalibaf-Asl, the financial daily Jahan-e Sanaat reported.
They were briefed on the mechanisms of the trading and the companies listed as well as the process of foreign investment, capital market structure and financial operations.
More than 400 financial entities are listed on the Tehran Stock Exchange with a market capitalization of more than $104 billion.
Many others are waiting for initial public offering, including refineries, petrochemical plants and other big businesses as part of a massive privatization program which could catapult TSE to the top of the rung among Middle East's stock exchanges.
The bourse has scorched to several record highs in recent years even under the most intensified series of US-led sanctions.
It is bolstered by its absorption of the massive investment in Iran's property market which has stagnated since 2008 but foreign investment is less than one percent for now.