5 New IPOs on Iran Capital Market; 31 on the queue!
A new wave of public offerings is heading towards Iran Capital Market. “Barekat” pharma holding, “South Kish Kaveh” Steel, “Jay” Oil Refinery, “Minoo” industrial and “Zangan” transformer are inches away from being listed on TSE or IFB trading boards. “The second wave will be on the way soon as well since a dozen more companies are now passing the documents check” said Emaeeil Dargahi, the capital market IPO reception chief. “Homa” hotels group, “Amin” investment bank, “Persia” Oil & Gas, “Pasargad” Powerhouse, “Sina” investment holding, “Atlas” Iranian is on the wait for the green to get listed soon.
The underwriting of IRR 40,000 bn Murabaha; the Healthcare Reform!
The second phase of “Healthcare Reform” plan will be on the run by issuance of IRR 40,000 bn early January 2017. These securities have a maturity of 4 years with a nominal rate of 20 and the coupon payment will be on a semiannual basis. The underwriting guarantor as well as the securities’ market maker will be a consortium of Investment banks being led by Amin Investment Bank.
Iran to increase capital on IMF; the 14th round!
The administration gave the green light on paying IRR 962,175,833,591 as the remainder of 14th round for IMF Iran capital increase. The ministry of economy will be in charge of providing promissory notes of this increase.
In the Market
The stock market continued its downward trend this morning, with the TEDPIX down by 0.74%, moving into 2017 initial hours of action. All other major indices joined the fall as well to make a red day for the capital market. TEDPIX lost 590.59 points to stand on 78,896.00 failing to maintain the 80,000 cap break again. With no hopes amid investors for the market to get well soon, it appears that market caught the worst cold ever.
The bulk of the day saw far below-average trading volume, but there was a surge of activity into the close amid small caps, likely associated with continues disappointments of the giants that made investors eager to get deep with smaller.
The petrochemical sector started the session on a soft note, extending its loss to the maximum after reports confirmed the old feedstock pricing model will be in place for now. Almost all the sector tickers’ were deep in red with “Khark” petrochemical being the leader. A million shares of “PKHA1” changed hands today on -4.99 made the ticker placed fifth with regards to worst impact on the index and left a 1 mn sell queue behind. Other industry giants lost big as well and ended the day with orders in sale queue.
The telecommunication sector spent the day alongside others due to broad-based weakness. Uncertainties over the future profits, sent the TCI lower by 4.02% on the last price, while the sister MCI ended the day with a narrow loss.
Elsewhere on the other side of the market, the two blue-chips of Iron Ores and Metals also finished behind the lines while other decliners saw slimmer losses. More than 6 mn shares of Gol-e-Gohar traded toady on -2.59% made the stock closing at IRR 2,329. National copper industries was not different and solely stamped 34.46 negative points on the index. Whith golbal markets in winter hybernation, it seems the lower than the other week FX rate is there only to blame for the export based companies’ fall.
Finally, despite the rumors on the Auto giant re-opening, the ticker is still halted and there are no juice in other players to lift the industry up. Loosing some of the earlier gains, IKCO traded for near 16 mn shares on -4.49 which made the ticker to closed at IRR 2,747 (-2.83%). Except a stock or two, almost all the shares were disappointing.
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
To contact reporters: Inter@agah.com