– Today a new issue of Iranian Islamic Treasury bills offered to the public on Iran Fara Bourse in an attempt to continue the settlement of Iranian government liabilities with the help of Iran debt market. These securities worth 10,000 bn (cUSD 219.78 mn) and will be matured in two years. “TB181” priced at 772,258 to have a YTM of 16.31% and a BEY of 15.11%.
– “The recent directive by SEO addressing brokers to provide their clients on longer with credit lines was an absolute misunderstanding” said Rouh Allah Mirsanei the Secretary-General of Iranian brokerages association. He continued: “the previous customers credit lines bylaw is still in place and SEO is just to mitigate any unnecessary risks by simply recording each client credit history and eliminate probable adverse balance and delays in payments.” According to the SEBA Secretary-General, brokers can continue offering their customers with purchase credits like before.
– In today’s session, 20% of Zagros-e Shahr-e Kord Milk and Meat Company, equal to 16,000,000 shares, went public in the second market of Iran Fara Bourse, listed on the Agriculture space, through the book building with its price ranges from IRR 3400-3500; each individual and institutional code was allowed to put orders up to 130 shares. According to the company’s financial statements, its sales over 2015 and 2016 grew up by 3 and 5%, respectively and it forecasted to see a 17% jump in its sales in 2017 to stand at IRR 500 bn, which seems possible in case milk prices continue to rise. With IRR 80 bn in capital, the company has estimated to realize an EPS of IRR 482 for the FY ending 21 March 2018 and it has covered IRR 205 over H1.
– Iran and East leasing company is to issue new corporate Sukuk Musharaka on Iran Fara Bourse from Monday (Jan 15th) with a nominal rate of 18%. This securities worth IRR 240,000 mn (cUSD 5.5 mn), will be mature in 48 months and have monthly coupon payments. The raised capital from this offering will be used to finance housing facilities department. As of today there are 29 Sukuk securities trading on both TSE and Iran Fara Bourse markets. It shall be noted that since the first day of Sukuk issuance on Iran’s Capital Market, there were 18 corporate issues worth IRR 16,000 bn which have been settled right on time.
– A new issue of Islamic Treasury Bills offered today on Iran Fara Bourse to complete another piece of government debts settlement. TB131 priced at IRR 921,030 and will be matured in a year. The YTM and BEY of this new securities are 16.5% and 15.6% respectively.
– Head of the Economic Commission of the Iranian parliament announced the bill releasing justice shares for trades on Tehran Stock Exchange will be notified on the next public hearing of Majlis anytime soon. “We are against distributing earnings of justice shares and principal asset along with the equity ownership shall be in hands of shareholders themselves” Said Pourebrahimi on a radio interview.
– In a press conference, the Head of the Securities and Exchange Organization (SEO) of Iran briefed the measures taken along with the progress made in the recent past in Iran capital market.
– 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%.
– Recent stats revealed by Securities & Exchange Organization of Iran show significant decline on fixed income funds’ yields registered in the Iran Capital Market. The below comparison table indicates that on average Iranian fixed income mutual funds are now paying circa 2% less to their investors over the first 8 months of 1396 (2017/18). This is the direct effect of late Iran Central Bank directive on lowering interest rates and it could be counted as a good sign for Iranian economy in general.
– 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.