[2007-08-03]  Capital market value to exceed $50b: Iran Daily
Capital market value to exceed $50b:

(IranMania) - The status of domestic capital market is satisfactory after the shares of some state-run companies were handed over to the private sector, Iran Daily reported.

Head of the Bourse Organization and Tehran Stock Exchange has said that the value of capital market would exceed $50 bln by March 2008 with the listing of 17 new companies and the block shares of three companies whose prices were evaluated.

Ali Salehabadi recalled the value of capital market was put at $35 bln before the shares were transferred. However it rose to $40 bln with the transfer of shares, he added.

He termed the status of domestic capital market as satisfactory after the shares of some state-run companies were handed over to the private sector, IRIBNews reported.

The transfer of shares of companies included in the privatization list as per Article 44 of the Constitution has been beyond the expectations of the organization, he pointed out.

Salehabadi said the shares of National Copper Industries Company and Isfahan?s Mobarakeh Steel Complex were made available in the year to March 2007, adding the shares of Iran Aluminum Company (Iralco) were floated to evaluate its prices in the year to March 2008.

He continued that following the global rise in metal prices, the price of the stocks of metal companies has also increased significantly.

The top bourse official said that the stocks of profit-making companies such as petrochemical industries and refineries are floated at the stock exchange market, adding the shares of banks and insurance companies would also be made available.

He said that effective measures have been taken to improve ties with bourse organizations of other countries, preparing proper ground for domestic and foreign investment.

Regarding the exact value of capital market following the transfer of shares, he said the value could be defined on the basis of prices evaluated by floating shares and through declaration of companies about their profits.



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