- Entitled “Hasti Bakhsh-e Agah,” Agah’s 10th Fund was offered as an ETF on IFB’s Third Market as planned. The initial offering of this fund, with the symbol “SAGF,” would continue for 4 business days. Agah group is the fund manager and Kardan investment bank is the market maker. Mr. Mostafa Bayati, who has already shown his successful management with the funds “Agah” and “Aghigh,” will be managing this newly-born ETF. From 50 mn investment units, 1mn was already issued as preferred units and the remaining 49 mn went public with the nominal price of USD 0.28 each. The least capital for this ETF is USD 1.4 mn and it can pool capital up to USD 14.4 mn. The secondary market for this instrument is the modern financial instruments market of Iran Fara Bourse (IFB).
- The minister of Industry, Mines, and Commerce made remarks on the practical methods for the largest industries to finance through the capital market. According to him, designing and controlling the capital market by ceasing to pay DPS in order to raise capital, guaranteeing bonds and sukuks market by the government, facilitating buy or sell of durable goods on installments, quickly reducing the interbank interest rate and also banks’ reserve requirements from 13% to 10%, and lowering provisions interest rate are of the ways to exert a quick effect.