Foreign Investments in Iran Capital Market reaches new highs!
– Announcing the IRR 20,000 bn worth of foreign investors trade value in Iran Capital market, the Vice-Chairman International & Foreign Investment Affairs at the Securities and Exchange Organization (SEO) of Iran added that a huge part of this money has entered into Iran’s debt market.
Iran Fara Bourse hosts another piece of Islamic Treasuries!
– Following the settlement process of Iranian government debts to industry sectors, today a new issue of ITBs worth IRR 19,000 bn (cUSD 451.3 mn) offered to public on Iran Fara Bourse under the ticker name of TB141. The securities have no coupon payments and will be issued at a discount to par. The below table demonstrate different scenarios for the pricing and YTM. However, the new T-bills priced at IRR 891,274 on Iran Fara Bourse today which led to a yield to maturity of 17.04% and a BEY of 15.84%.
Iran Banking Sector More Active in Europe!
– The recent blockage of some Iranian petrochemical companies’ bank accounts in China, which were then, experienced by Iranian citizens and students there, took negotiations and talks to be resolved; it appeared that they originated from severe implementation of FATF regulations and did not only focus on Iranians but they were applied to other countries wanting to open an account or transfer money.
Harmony Between Iran Debt Market & Iran Banking Sector!
– Going under pressure to stop the issuance of Islamic Treasury Bills since late last year, the Iran Debt Market started to see the re-entrance of such securities since September this year. On Saturday, the Iran Fara Bourse hosted IRR 9,000 bn worth of bills with a YTM of circa 15%. It seems that the Central Bank of Iran’s directive on lowering interest rate on bank deposits followed by strict supervision and precision in defining new rates has now hit the Iran Debt Market. The harmony between interests offered by the money and debt markets contains two hidden messages: one refers to the opportunity it offers to deepen the Iran Debt Market by more supply and the other deals with the positive effects of lower interest rates on other markets, which has the potential to turn the stock market into a more attractive one for fresh money.
USD 491.5 mn Sukuk Murabaha offered on Iran Fara Bourse!
– In an attempt to provide Government Trading Corporation Of Iran enough funds required for wheat purchases, the ministry of economic affairs and finance sold IRR 20,000 bn (USD 491.5 mn) worth of Sukuk Murabaha on Iran Fara Bourse the other day. The securities have maturity of 4 years with a nominal rate of 17% per annum and the coupons will be paid semi-annually by Central Securities Depository of Iran.
Halt, Suspension and Reopening to be amended on Tehran Stock Exchange!
Today a new directive placed into effect by Iranian SEO aiming to amend sever shortcomings of Tehran Stock Exchange in regards of tickers’ halts, suspensions and re-openings. Committing to its basic duties for a more transparent and liquid stock market, Securities and Exchange Organization, amended the main headlines on previous bylaw governing tickers closure and re-opening.
Treasury Bills to return on Iran Fara Bourse!
– After a temporary lockdown of 6 months, Islamic Treasury Bills are to come back on Iran Fara Bourse trading board. Just the other week, initial reception process of new government bonds for IRR 120,000 bn carried out and new bills, doubling the size of total issues, are now listed on Iran Fara Bourse main debt board. Moreover, for the first time Iranian government published treasuries with maturities up to 24 months. The below table gives an insight on Iranian debt market status and terms of new treasuries.
Iranian Banks to lower the overnight rates!
– Central Bank of Iran‘s chair, Vali-Allah Seif, announced that Iranian Banks agreed on dropping the overnight lending rate down to 18%. According to Dr. Seif, CBI’s past experience meddling for lower rates was successful to take down the figure from 28 to 17 percent and it was only logical for CBI to act in the middle this time again. Moreover Iranian Banks shall be cautions towards their resources and consumption since central bank is now watching over their shoulders looking for inappropriate overdrafts.
“Mobin One” went public on Iran Fara Bourse!
– Today 10% of “Kish Mobin One Co.” (MOBZ1, IRR 3,470) went public as the first IPO of the year on Iran Fara Bourse second market. The ticker was supposed to be priced in the range of IRR 3,400 to 3,470 through book building and finally 10 mn shares changed hands at +247% of its par. The P/E ratio stood on 6.5 which still is much lower than its peers like Atieh Data Processing with P/E of 14.0. The company is to provide value added services like VAS and IVR in the field of telecommunications.