The initiative to ease restrictions on trading the so-called Justice Shares will allow Justice Shares worth 3,000 trillion rails ($18.75 billion) to be offered Iran’s stock market, head of the Iranian Privatization Organization said.
Briefing reporters on the government’s new plan, based on which the shares will be tradable in the stock market, Alireza Saleh said the stock market will grow exponentially after the shares are completely vested.
The process commenced Wednesday soon after the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei approved a government request to transfer the ownership of shares to the people, IRNA reported.
Saleh said holders of the shares have one month to decide on its ownership, referring shareholders to special electronic platforms to determine the status of the ownership of their shares. More than 50,000 applicants registered by Wednesday noon.
April 29, 2020 23:12
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IPO Welcomes Decision on Justice Shares
Justice Shares are shares of government-owned companies that were given to the six lowest income deciles of Iranians ten years ago. They could not trade the shares and received a small part of the dividends in the last two years
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