On 9 August 2008, five percent of equity shares of state-owned Telecommunication Company of Iran Co (Equivalent of 2,293 million shares of company) first time after listing, was offered by government on Tehran Stock Exchange at the price of $ .16 per share with the total value of $367 million. Further shares will be offered in coming days. Management forecast consolidated earnings per share at $0.018.
Telecommunication Company of Iran (TCI) was established in 1971 with a new organizational structure as the main responsible administration for the entire telecommunication affairs, and Iran Telecommunication Industries (ITI) was also founded in the same year to manufacture the required equipment for the national long-distance network. TCI, as the main responsible organization in developing the telecommunication networks has utilized the most advanced equipment and services such as digital switching centres, optical fiber cables, mobile phones, data networks, satellite services, and telephone special services during the recent years, and has also succeeded to manufacture more than 80 percent of the required equipment inside Iran.
About Tehran Stock Exchange Corporation (TSE)
TSE launched in February 1967 and has come a long way. TSE demutualized in 2006 after the New "securities market law" was ratified in 2005. Today, TSE has evolved into an exciting and growing marketplace where individual and institutional investors trade securities of over 332 companies from different industries. TSE is the only organized security market in Iran and has 90 members (brokers) and about 6,150 shareholders.