OTC Market
See also: Tehran Stock ExchangeSince 2009, Iran has been developing an over-the-counter (OTC) market for bonds and equities called Farabourse. Its shareholders include the Tehran Stock Exchange Corporation (20%), several banks, insurance companies and other financial institutions (60%), and private and institutional shareholders (20%). As of July 2011, Farabourse has a total market capitalisation of $20 billion and a monthly volume of $2 billion.
In 2010, 5.5% of the Mobile Telecommunication Company of Iran shares were offered on the Iranian Over-The-Counter (OTC) market, at a value of $396 million. This was the largest IPO-to-date in the Iranian OTC equity market. In 2011, Pardis Petrochemical Co., the largest producer of urea and ammonia in the Middle East, Amir Kabir Petrochemical Co., Pasargad Bank, Yazd Alloy Steel Co. and Ravan Fanavar Co (a car auto part manufacturing company) went all public.
Read more about this topic: Banking And Insurance In Iran
Famous quotes containing the word market:
“... married women work and neglect their children because the duties of the homemaker become so depreciated that women feel compelled to take a job in order to hold the respect of the community. It is one thing if women work, as many of them must, to help support the family. It is quite another thing—it is destructive of woman’s freedom—if society forces her out of the home and into the labor market in order that she may respect herself and gain the respect of others.”
—Agnes E. Meyer (1887–1970)