Business And Markets

SEO Notifies Listed Companies Not to Delay Data Publication

The Securities and Exchange Organization has called on listed companies to release without delay corporate data to the millions of retail investors in an orderly manner. 
The SEO particularly instructed companies in the stock market to release plans to increase their capital via the Codal website, an information platform created for instant official publication of corporate news and information.
The call was in response to shareholders complaints that listed companies either refuse to publish key data or do so with extended delays allowing people with “inside information” to manipulate the market and make fat profits.   
"In the follow-up to requests from a group of shareholders demanding transparency, the companies are asked to review  plans for capital increase and publish the results on the Codal without further delay," a SEO letter sent to listed companies said that also was published by  the Securities and Exchange News Agency. 
Riding on the back of fresh liquidity flooding the share market in the middle of last year, the main gauge of Tehran Stock Exchange, TEDPIX, jumped 300% in less than five months and crossed the historic high of 2.1 million points. 
Triggered by huge sell-off by institutional traders, mostly in shares of companies affiliated to the government, the bubble burst and the TEDPIX crashed and lost half its value, leaving millions of retail traders in the lurch.

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