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World Bank envoys voice concern over upcoming rush into Tehran Stock Exchange

TEHRAN, Aug. 6 (Mehr News Agency) -- During a meeting with Tehran Stock Exchange Organization (TSEO) managing director Ali Salehabadi here on Sunday, a group of World Bank officials voiced concern over the possibility that as many as 20 million new shareholders could suddenly enter the TSE in the near future. Reform of the national economic structure and the implementation of the privatization plan were also discussed in the meeting.

In pursuance of the Supreme Leader's decree, 80 percent of the shares of state-owned companies' are to be transferred to the private sector through the TSE, which was selected for its transparency, Salehabadi explained.

Addressing the World Bank envoys' concerns over the potential sudden rise in new shareholders and increase in the trade volume, the Iranian official said that a system capable of handling the new activities has been purchased from Euronext and will be installed by late March 2007, adding that the rise in the number of shareholders will take place gradually.

With the passage of new laws for the capital market and the definition of marketeers and new trade tools, a bright future is foreseen for the TSE, he said.

... Payvand News - 8/7/06 ... --

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