1082
SEO Urges Creation of More Funds
Economy, Business And Markets

SEO Urges Creation of More Funds

The Securities and Exchange Organization (SEO) authorized the country’s first land and structure fund (LSF) called “Nasim” to enter stock market, Securities and Exchange News Agency (SENA) reported on Monday.  

 The LSFs are a form of Unit Investment Trust— a type of mutual fund. Tehran Stock Exchange (TSE) has recently made new changes to its admission procedures for newly established funds to facilitate the process of entering capital markets for LSF and project funds.
The fund has been allowed to start operations after collecting 150 billion rials ($5.6 million) during the run-up subscription period.
The Housing Investment Company has been appointed as the main agent and Tehran Capital Market Development Company has been assigned as the manager of the fund. The fund is set for a residential plan in district 22 (Chitgar Lake area) of Tehran, with a total of 13 square kilometers and will take between 24-30 months.
About ten days ago, Avishan, Iran’s second land and structure fund went to an initial public offering (IPO), and its investment units became tradable in the secondary market.
Experts and officials believe the establishment of such funds will help increase construction quality.
The TSE had also earlier favored LSFs entrance to the exchange market, and had called for more of such funds.

 

Short URL : http://goo.gl/ueL3Bx

You can also read ...

Effects of Sanctions on Food Consumption of the Poor
It is now clear that the purpose of US sanctions against Iran...
CBI Moves to Sideline USD
As part of the latest measure to ditch the US dollar from the...
Sanctions, Banking Troubles Facing Iranians in Hong Kong
Banking for companies that do business with Iran–as well as...
Surcharge on Forex Rate Difference “Illegal”
The retrospective application of Clause Five of the government...
New Online System to Monitor Warehouses Countrywide
All warehouses in Iran are required to register in the so-...
Bank Loans Hit €18 Billion in 4 Months
Banks and credit institutions allocated a total of 1.67...
Sesame Oil, Products Imported From  6 Countries
More than 1.38 million tons of sesame oil and products worth $...
Gov’t to Build  2 New Towns
The Iranian government will commence the process of building...

Trending

Googleplus