According to the recently released approval by the Securities and Exchange Organization of Iran on the organization and separation of TSE and IFB markets, the location of listing, releasing and trading of Debt Securities (including Musharaka bonds and Sukuk) owned by those companies that have received their release certificate from the SEO is as below:
- The securities of companies listed on TSE will be in TSE;
- The securities of companies listed on IFB will be in IFB;
- The mentioned location for the securities of the non-listed companies will be determined based on where the controlling shareholder has been listed and otherwise, in IFB; and
- The mortgage-backed securities will be in IFB
It is worth mentioning that those companies which are currently listed on TSE but whose securities have been released in IFB and those companies that are currently listed on IFB but whose securities have been released in TSE will continue to trade in those markets until their maturity date and the end of their settlement and clearing processes.
The location of listing, releasing and trading of debt securities which are released according to the rules and regulation of the country’s annual budget or the Central Bank of Iran’s permission will be determined as below:
- State-owned companies and institutes’ securities in TSE;
- State-owned securities (released by ministries) in IFB;
- The securities owned by listed banks based on the listing location of the bank; and
- The securities owned by the non-listed banks in IFB.
- The securities of non-state organizations (except from municipalities) will be listed, released and traded in IFB.
- The securities of municipalities will be listed, released and traded in TSE.
- The standard parallel Salam contacts and derivatives will be listed, released and traded where their backing asset has been listed.
- Besides, all kinds of investment funds will be listed, released and traded upon request whether in TSE or IFB.
In its attempts to renew cooperation with its foreign counterparts in the post sanctions era to boost the economy of Iran and better introduce the investment opportunities in Iran, Bank Tose-e-Saderat (also known as Export Development Bank) has managed to resume brokerage ties with 105 foreign banks from Europe, Asia and Africa.
Paying a visit to Germany to discuss and introduce the investment opportunities in Iran’s economy in the Insurance industry in the post-sanctions era, the President of the Central Insurance of Iran announced Munich Re interest in cooperating with the Central Insurance of Iran and offering services like training programs as well as life insurance to Iranian. In this regard, it has also been heard that the English Lloyd Insurance is eying to launch branches in Iran’s free trade zones.
As the After the bill passed by the US House of Representatives on November 17th which barred the sales of airplanes to Iran, specifically Boeing, the US Treasury Development finally authorized the sales of Airbus commercial planes, worth $20 bn, to Iran Air in the last month of his presidency of Barak Obama; the need for this authorization is due to the fact that at least 10% of these vehicles parts are produced in the US.
In the Market
Symbols in the Cement industry started string and some such as Sofian Cement, Khuzestan Cement and Bojnourd Cement faced buy queues right from the start. After the positive adjustments in the EPS in Ardebil Cement and Mazandaran Cement due to the price hike and export increase, other companies seem to be doing the same in the near future. At the end of today’s session, the majority of tickers ended above their flat lines, led by East Cement with trades worth $0.67 mn.
This positive movement in the Cement industry resulted in tickers in the Construction space to be positively traded in a way that Sakht Ajand faced a buy queue. However, most eventually ended in the red zone.
Names in the Oil Products group also went through positive trades, after the agreement on freezing oil production made in OPEC was announced. Behran Oil and Iranol Oil ended in the +4% area and Tabriz Oil Refining and Esfahan Oil Refining also closed in the +1% and +.5% zones.
Most symbols listed on the Automotive space as well as the Spare Part Mfg. companies experienced positive movements. More attention is now being paid to spare part mfg. companies the more we approach the implementation of the agreements made between Iranian and foreign automobile mfg. companies. Motorsazan Iran Tractor as well as Ravan Fanavaran Engineering faced buy queues and Irka Part San’at, Charkheshgar and Nasir Machine Engineering finished in the +1% zone.
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.
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