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Iran Fara Bourse to List IME

Fara Bourse to List IME Fara Bourse to List IME

Iran Fara Bourse will list Iran Mercantile Exchange on its primary board. IME’s request was approved, but not before the exchange doubled its capital to 900 billion rials ($24.4 million at market exchange rate), which took place in mid July, Security and Exchange News Agency reported. IME, founded in 2006, trades in agricultural, industrial and petrochemical products in the spot and futures markets. The market added gold certificates of deposit to its arsenal this year, complementing its gold coin futures trading. The precise day for the exchange’s listing on the IFB has not been announced. The over-the-counter market emulating NASDAQ, IFB, is Iran’s second largest equity market in size, with a $13.7 billion market cap.

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Financialtribune.com