Is it possible to sell equity shares? – Tejarat News
According to Tejarat News, Majid Eshghi stated that the decision regarding the equity shares has not been finalized and explained: Assemblies of provincial investment companies should be held. It is not possible to hold these assemblies with the presence of one to two percent of shareholders, because the assembly will not be recognized. The year 2019 also faced the same problem. Assemblies were held, but 0.01% of shareholders participated in the assemblies. Of course, according to the commercial law, the second round of the assembly will be held with any number of shareholders, but there is no participation in terms of content.
He continued: Each of the provincial investment companies has a large scale and a large market value. There should be a formula to increase the participation of people in corporate meetings. After holding the meetings of the board of directors, assignments should be determined and changed. It took time to solve this problem, and if it is solved, the symbols will be reopened after holding the assemblies.
The head of the Stock Exchange and Securities Organization added: In this regard, a mechanism is being considered, according to which the subject of equity shares will be able to represent the presence in the assembly to another person, including a natural or legal person.
Eshghi stated that the meaning of the release of equity shares is that the shares are no longer in the hands of the government and said: the installments of equity shares have been fully paid to the government. This stock is not pledged by anyone, but it is not possible to sell it. If we make it possible to sell equity shares for everyone, due to the large number of shareholders and the small size of the shares, there will be heavy selling pressure on 35 equity stock exchange companies.
He emphasized: while the philosophy of equity shares is not to sell, but to use the benefits of these shares in the long term. The interests of ownership and management are in the hands of the people. Direct shareholders can participate in meetings in person. In fact, everyone has shareholder interests, they just cannot sell their shares.
Eshghi also said about the possibility of selling equity shares: it should be decided according to market conditions that a percentage of equity shares can be sold. Market conditions are one reason, if it is possible to sell equity shares, big shareholders will buy them and the shares will be taken out of people’s hands. In the announcements of the Supreme Leader, there is a serious emphasis on the issue of holding shares. There may be a discussion of sales over time.
He also stated about the latest decision regarding 13 non-stock equity companies: the private organization is in charge of forming the holding of 13 non-stock equity companies. Of course, it was recently decided that out of 13 companies, those that meet the conditions will be admitted to the stock exchange or over-the-counter, and the remaining companies will become holding companies.
Source: ISNA