The new method of initial public offering has no rent / 98% of justice dividends have been paid

According to Tejarat News, the first press conference of Majid Eshghi, the new head of the stock exchange organization, is being held. In this meeting, Eshghi answers the questions of journalists from different media.

At the beginning of the meeting, the new chairman of the stock exchange, while expressing hope for reducing stock market fluctuations, said: “We can stabilize the market through the policies made in the government and the parliament. All we try to do is take a step towards building trust, but it is hard work and time consuming. “All our efforts are aimed at reforming the structure and policy-making and budgeting.”

“A meeting was held with the head of the judiciary about what happened in the capital market and what needs to be done. “In that meeting, we will answer the ambiguities.”

Unable to delete the swing range at this time

“There are some issues with market infrastructure that have always been discussed,” Eshghi said of eliminating volatility. One of these is the issue of volatility, which has different dimensions and we have to decide on it according to market conditions. “Ideally, we should not fluctuate and the stocks should stop in the event of a sharp fluctuation, but while we are facing an overall imbalance and are engaged in decisions that affect the market, eliminating the volatility is not currently feasible.”

“However, for companies that have price stability, we can open the range of fluctuations, but if we open the range of fluctuations at once, it will cause turmoil in the market,” he said.

Grammatical pricing is not the only problem of industries

“In the last five years, we have not had a mandatory pricing in some petrochemical steel industries,” Eshghi said. This path must continue. The challenges of industry are not limited to grammatical pricing. We have problems in the processes. Specifically, the export of refinery products is discussed by the government or the National Refining Distribution Company, while 80% of the refineries have been privatized. This is a problem in the process. In the automotive industry, the problem is not only pricing, but also the financial, ownership and management structure. »

The entry of startups into the stock market is facilitated

“We hope that with the planned arrangements, we will be able to bring technology-based companies to the stock exchange,” Eshghi said in response to the conditions for accepting startups on the stock exchange. “There are now about 20 companies in the supply line, and the entry of other companies is under consideration.”

When does the sale of justice shares start?

“There was a series of fundamental ambiguities in the process of selling justice stocks, which led to a general halt in sales,” the head of the bourse said in response to the resumption of trading on the stock exchange. “A working group has been set up to review the executive structure of justice stocks and to make reforms quickly so that we can best provide the conditions for trading and owning justice stocks that can be a good asset for the people.”

“The value of justice stocks changes according to the market trend,” he said. “It is an effort to preserve the value of equity shares and the interests of shareholders.”

Rent in the new method of initial public offering

Asked about the distribution of rents in the new method of initial public offering, Eshghi said: “It can not be said that rents are for certain people. The previous method also had advantages and disadvantages according to its experience. The main problem with the offering of small shares was that when small stocks came into play and the number of applicants reached several million, shareholder management became a problem and the company was forever plagued by a large number of shareholders. The initial public offering of such companies in the previous method is of no benefit to investors and is nothing but a hassle for shareholders and the company.

The head of the stock exchange organization stressed that there should be a policy in small offers that benefits the whole market. We seek to make the offerings as public as possible.

Investigation of the stock exchange organization

Regarding the investigation of the stock exchange organization, Majid Eshghi said: “We fully welcome this event. The events that took place in 1998 and 1999 have created ambiguities. We hope that by conducting these investigations, it will be clear what problems there have been. We need to be able to make improvements that prevent these problems from recurring. We are forming the relevant expert body. “We do not think these events will have a significant impact on financial institutions, but we will take the necessary measures to reach any result.”

The need to implement the resolutions of the Supreme Council of the Stock Exchange

Eshghi also said in response to a question from a Tejarat News reporter about the executive guarantee of the decisions of the Supreme Exchange Council: “As the Supreme Exchange Organization, we are obliged to implement all the decisions of the Supreme Exchange Council. Decisions are not made by representatives of the private or public sector. And usually we all come to a consensus on a decision.

Regarding the contradiction between the policies of the Central Bank and the interests of shareholders, the head of the Exchange Organization said: “The policies of the Central Bank, according to its mission, may not be in line with other economic sectors of the country. Negotiations are usually held to minimize the consequences of these decisions. “Decisions related to and joint with the central bank will be made in detail.”

Releasing the selling price of exporters’ currency

Majid Eshghi also announced that with the permission of the Central Bank, export-oriented companies can offer their currencies at competitive rates and markets in the Nima system.

Transparency in the publication of financial statements

“We have made good progress in publishing the financial statements of the companies in terms of time, and more than 99% of the companies published their financial statements on time, and we had no problem,” he said. We do not neglect to publish information, and the basis of transparency is that the assets of companies be published in the Cadal system. We also urged companies to make separate announcements about land and buildings and related claims. We will do the same for other issues if necessary. “We do not have a problem with the quantity of reports, but we are working on the quality of the reports.”

Justice dividends

The head of the Tehran Stock Exchange stated regarding the justice dividends: “98% of the justice dividends of 1998 have been paid and the only profit of the telecommunication company is that it has not been paid. The Privatization Organization is also pursuing to get this amount from Telecommunications. The payment of interest for the year 1999 will be discussed in the next meeting of the Supreme Council of the Stock Exchange and we will do this by the end of the year. »

The story of the miners

“In general, the miners belonged to the company and operated for only two or three months, and then they were transferred to Anbar,” Eshghi said of the miners’ controversial issue at the stock exchange. The final verdict on the violation has not been announced. We are following up through the violations committee and other related bodies. The total purchase made for the devices was an insignificant number, and its dimensions are not so large that we want to talk about it continuously. “If a disqualification is needed, it will be done.”

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