TEHRAN- The variety of buying and selling accounts in Iran’s stock market has reached 48.5 million by the top of the final Iranian calendar month (August 21), whereas the determine was 9.086 million on the finish of the identical month previously yr, Mehr information company reported on Monday, citing the info launched by Finance and Financial Affairs Ministry.
As reported, the talked about determine additionally consists of the accounts opened for buying and selling the “Justice Shares”.
Justice Shares are shares of government-owned corporations that got free to the six lowest earnings teams of the society nearly a decade in the past. Shareholders weren’t allowed to promote the shares till May, when primarily based on a authorities’s plan, the shares have been allowed to be tradable within the stock market.
The shareholders got the choice to both immediately achieve the possession of their shares and promote it within the stock exchange, or let the funding corporations handle their portfolio as previously.
The pinnacle of Iran’s Securities and Trade Group (search engine marketing) has stated that 4.5 million new buying and selling accounts have been opened within the nation’s stock market in the course of the first 4 months of the present Iranian calendar yr (March 20-July 21).
Hasan Qalibaf-Asl stated it’s whereas the variety of buying and selling accounts opened within the stock market was 820,000 previously yr and 50,000 in its previous yr.
The search engine marketing head additional introduced that the brand new shareholders have entered the stock market with the common capital of 100 million rials (about $2,380) – 150 million rials (about $3,571).
It ought to be famous that in late February, search engine marketing set new rules for the opening of buying and selling accounts for the brand new shareholders within the nation’s stock market.
Based mostly on an announcement by the search engine marketing, the brand new candidates can conduct commerce one month after opening their buying and selling accounts and they’re required to cross an examination given by Securities and Trade Brokers Affiliation (SEBA) or search engine marketing in the course of the one-month time, whereas they’re additionally dedicated to avoiding sign promoting and another actions, and in the event that they achieve this, their accounts will likely be blocked.
As determined by SEBA, the candidates are required to take the talked about examination in individual or nearly, and it’s in step with elevating the data of shareholders.
Elsewhere in his remarks, the search engine marketing head stated that the capital market was not paid consideration by the folks previously years, including, “But this market is currently highly welcomed which has made a real change and development in it.”
He stated whereas the full funding within the capital market reached 350 trillion rials (about $8.33 billion) within the earlier yr, the determine was one quadrillion rials (about $23.Eight billion) simply within the 4 first months of the present yr.
Finance and Financial Affairs Minister Farhad Dejpasand has just lately stated, “We try to save the liquidity attracted by the capital market and lead it toward production and development.”