Stock Depository Receipts to be on Tehran Stock Exchange!
– The Fiqh (Jurisprudence) Committee of the Securities and Exchange Organization finally approved the proposed model on issuing Stock Depository Receipts on Tehran Stock Exchange after all the controversies solved. “The DRs as a fund raising solution for major shareholders and a way to increase the free float of a ticker, was under consideration for quite a while” said Reza Kiyani, the R&D director of SEO. The frame work suggests major shareholders to offer a part of equities under their ownership to retail investors whilst keeping the corporates actions power, including selective voting rights, to themselves.
– The latest stats show that the bank debts to the CBI reac