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OTC Trade Volume Up 9%

OTC Trade Volume Up 9% OTC Trade Volume Up 9%

Fara Bourse (over-the-counter) recorded trading of more than 2.8 billion shares worth 17.4 trillion rials within a month ending Oct. 22, indicating a 9 percent growth compared to the same period last year, SENA reported.

Based on the report, within the same period, 402 million shares were traded at the first market, valued at 1.6 trillion rials, which demonstrated 3 percent jump compared to the same period last year.

 In addition, over 1.8 billion shares were traded at the secondary market, valued at 4.4 trillion rials.

The report said chemicals contributed 41 percent to overall trades at the OTC and become the most active sector overall.  

Following the chemical sector, base metals, oil-related commodities, coke, banks, credit and financial institutions, and financial intermediaries had the highest value of trades.

The first Iranian OTC market received its operation license in 2009 and is called Iran Farabourse Co. It is engaged in financing of manufacturing and service companies by easing the process of listing of different types of securities.

Financialtribune.com