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Mr. Rouhollah Hosseini Moghaddam, TSE’s Listing director released the following report about the Exchange’s listed companies latest status.
On 1st September 2013, the number of listed companies at TSE reached 314 with accepting and offering shares of a new investment company.
The newly listed firm, “SEKAB” has been established in June 2004, and the company’s listing has increased TSE’s market capitalization to USD 118 billion.
Four companies were listed in the past Iranian year and in the period, 13 companies were delisted because of noncompliance with TSE’s listing requirements.
Now, according to the ISIC method, 314 listed companies are classified in 36 industries. Cement, vehicles, pharmacy and petrochemical groups have maximum number of companies and petrochemical, oil refining, basic metals, banks, mining and holding companies are the top groups by market capitalization. Based on trading volume, oil refining, petrochemical, basic metals and banks are the most popular companies by the investors at TSE these days.
Based on the listing rules of Tehran Stock Exchange, companies are classified in 2 markets, with two boards in one of them. Each board and market has different requisites. Companies in the main board of the first market must have at least USD 40 million as capital and at least 20 percent of its share should be freely floated. These requirements in the secondary board of the first market and the second market are USD 20 and USD 8 million as capital and 15 and 10 percent as free float.
According to the latest review, 60 companies are listed in the main board of the first market and 61 companies in the secondary board. The other companies are listed in the second market.
Tehran Stock Exchange has an inspection each June and modifies companies’ status if they lose the requirements of each market or board.
TSE has designed different indices such as Index of 30 biggest companies, Index of 50 active companies, Index of the first market’s companies and Index of the second market’s companies.
Besides common stocks, there are other financial instruments at TSE to trade, such as rights, which are available for trading by 2 month after capital raise. Moreover, it is possible to trade participation bonds (Sharia-compliant instrument) in Tehran Stock Exchange. Now, there are two bonds listed: Shiraz municipal and Saipa (biggest vehicle manufacturer) bonds, which are being traded at TSE with the rate of 20 percent.
Single Stock Futures is the first derivative instrument in Tehran Stock Exchange. This has been lunched about 4 years ago and now there are 18 symbols with two-month maturities to trade.
According to the ratification of ETFs regulation by SEO (Securities and Exchange Organization), there will be possibility of trading in the near future.
(1USD = 24500 IRR)
