AGAH Mutual Fund Fact Sheet
– In its latest hostile action against Iran, the United State (OFAC) put some TSE listed companies under the SDN list subjected to secondary sanctions. The reason behind this action is the fact that sanctioned companies are in close relations with Iran “Basij” forces. Below list shows the details of listed tickers subjected to this sanctions:
– As the US sanctions deadline closing in and with the aim of cancelling its negative effects on Iran oil exports, the national oil company has decided to offer crude for export purposes on Iran Energy Exchange – 80% currency settlement – 20% IRR (SANA rate) settlement. The base price for the offering is $79.15 per barrel to be presented on October 28, 2018.
– After the recent fluctuations of Iran Capital Market, which was mostly due to unprofessional behaviour of inexperienced investors along with uncertainties of upcoming political situations, there were some concerns with regards to the future path of the stock market. Agah Group analyzed the current situation of the Tehran Stock Exchange and Iran Fara Bourse with an eye on the USD/IRR rate:
– Stats show that the pace of money supply (cash component) growth in Iran Economy has been accelerated over the month of Mordad (Jul-Aug 2018) reached 39.7% which is the highest since 1390 (2011-12). This figure for the “near money” part was 17.5% that made the total number for money supply around 20%.
– On Monday, Oct 25, 2018, 10% of Avicenna pharmaceutical company offers publically for the first time on Iran Fara Bourse. The company has 35 mn shares and each individual and institutional investors can only place orders for 700 shares through book building method. The price range has been anticipated to be between IRR 3,000 and 3,300. This pharma producer has a development plant to go deep into coated dosage form drugs which are the baseline for anti-cancer pharmaceuticals.
– In an attempt to deepen their business relations, Iran & Turkey are to establish a dedicated bank easing the trade processes between the nations. Economy, Banking and Petrochemical, Iron ore and industrial part purchases are the areas of interest between two countries and in that regard and as the first step, an export guaranty fund shall be formed that assures any sale and purchases. The process of establishing such a bank will take at least 6 months and central banks of the two nations are responsible for keeping its shareholding structure intact.
– Reuters reports that IMF released its latest research on the global economy and of course Iran’s situation. According to news, IMF reduced Iran Economy growth rate to -1.5% for the year 2018 (previously was +4.4%!) and also predicted that Iran will face with an inflation rate of 29.6%. The unemployment rate would reach 12.8 as well which shows 1.1% growth.
– After the recent chaotic situation dominating the Iranian economy, Iran Chamber of Commerce offered an exit plan to the president Rouhani’s administration containing 12 reformative approaches. According to the headlines which the head of ICC sent the first VP, Eshaq Jahangiri, the government, most importantly, shall:
– After months of pointless disputes around joining CFT convention, Iranian Parliment finally voted “Ay” on the bill and as its result, Iran will officially join FATF countries’ list. Although the voting was anonymous, yet the numbers of senators in favour (143) outweighed the against members (120) and there were 5 blanks votes. This would have massive effects on the future of Iran’s banking and financial transactions in the absence of united states after their withdrawal from JCPoA.