RenCap has expressed willingness to enter Iran’s equity market.
The leading Russian investment bank’s top executives have held a meeting with officials at Tehran Stock Exchange with the aim of developing cooperation.
The Renaissance Capital which operates in Russia, Central and Eastern Europe, Asia and Africa, has underlined its intention to enter the Iranian market, describing Iran’s economy as the largest in the Middle East.
“Latest statistics show that Iran is the biggest Middle Eastern economy with a gross domestic product (GDP) of $987 billion, while Saudi Arabia’s GDP stands at $928 billion, Egypt’s at $551 billion, UAE’s at $270 billion, and Iraq’s at $249 billion,” said the CEO of the Russian firm, Igor Vayn, calling it a chief factor that attracts international firms to TSE.
During his meeting with TSE managers, Vayn named international investment companies such as Franklin Templeton, HSBC Global Asset Management Group, BlackRock investment management, and ING investment management as the companies that are seeking to enter Iran’s financial markets.
Vayn, whose firm is perusing market-leading practices across emerging markets in metals, mining, oil and gas, and agriculture, compared the returns of TSE, Moscow Exchange, and Dow Jones during July 2010- November 2013 period as they gained 389%, 10%, and 64%, respectively.
