Tehran Stock Exchange is increasing its capital by a third, the exchange’s chief financial officer has announced.
The exchange will add $400 billion rials ($11.5 million at market exchange rate) to its shareholder’s equity, bringing its total equity to 1.5 trillion rials ($43.35 million).
The capital will be raised from listed companies’ retained earnings. Azadeh Yazdani says the issue will be decided during TSE’s general and extraordinary meetings.
They will be held simultaneously on July 17. “We expect the first phase of the capital increase to happen by mid-September,” she was quoted as saying by SENA.
