TEHRAN - Tehran Stock Exchange (TSE) plans to hold 10 new initial public offerings (IPOs) in the current Iranian calendar year (ends in late March 2024), an official with the organization announced.

According to Mohammad-Amin Ghahremani, head of TSE’s derivatives operation, the entity plans to facilitate the entrance of new companies into the stock market in order to attract more capital.

“One of the ways to properly direct liquidity into the market is to attract resources through initial public offerings,” Ghahremani told IRNA.

“In order to facilitate the initial offerings, we cannot ignore important issues and only consider enhancing the processes, we do not do such a thing in any way, and the policy of the Tehran Stock Exchange regarding the initial offerings is not such a thing,” he added.

The official noted that TSE has been recently focusing on listing project-oriented companies and the priority for the upcoming IPOs will also be such companies.

“We accepted the first company about a month ago, and now the necessary steps are being taken to obtain an underwriting license,” he said.

Ghahremani further noted that TSE is planning to increase the number of IPOs in the current Iranian calendar year compared to the previous year; however, the conditions for such offerings must be prepared.

EF/MA