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.
Parsian Kowsar Hotel went public on IFB!
– 15% of Parsian Kowsar international hotel went public today on Iran Fara Bourse second market. More than 16 mn shares of “PKHZ1” offered in the market through book building. The IRR 110 bn company made 35% more on sales over 2015/16 and the growth has been predicted circa 20% for 2016/17. Kowsar international hotel announced an estimated EPS of IRR 1,023 for the current fiscal year.
Tehran Stock Exchange took rates down in indifference!
In the Market
Equities ended another red day on a negative note as investors took a relatively disappointing report on Saipa Co. report pushing the TEDPIX (-0.10%) to stand at 83,345.20. The IFEX ended the day also lower, not able to break the ceiling of 956. Trading volume was especially heavy as many investors tried to get rid of Auto giant’s shares from their portfolios.
The fiscal Report for Q2 for Saipa disappointed the investors as the firm realized massive losses. More than 300 mn shares of SIPA1 (-15.01%, IRR 1,189) changed hands on -16% made a very bad day for the industry. Due to its high influence on the rest, almost all tickers of group including the ones started the day in green, lost big towards final hours.
On the flip side, the heavily weighted Persian Gulf Petrochemical, “PKLJ1” (+4.57%, IRR 4,899), ended the day with light orders left in the buy queue. The most valuable firm listed on Tehran Stock exchange stamped 271.39 positive points solely with only 2.2 mn traded shares registered a notable gain of its history.
Finally, big names on Oil Refineries averages moved solidly higher on today affair to end the recent relatively flat line. Isfahan Oil Refinery (PNES1, +2.12%, IRR 2,983) placed second for positive influence on TEDPIX. The ticker traded for almost 11 mn shares.
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