When will buying and selling equity shares be freed? – Tejarat News

According to Tejarat News, Bahman Abdullahi, a member of the Supreme Council of the Stock Exchange, said about the latest decisions of the Supreme Council of the Stock Exchange in the recent meeting of the Supreme Council of the Stock Exchange, which was held on Tuesday, July 20, about the way of holding the assemblies of the provincial companies of equity shares after three years of efforts by the chamber. Cooperation, we were able to achieve good results in the Supreme Council of the Stock Exchange.

The member of the Stock Exchange Supreme Council added: With the help of the Stock Exchange Supreme Council, although some members were against it, but anyway with the support of the Minister of Economic Affairs and Finance and the collective approval of the Stock Exchange Supreme Council, good results were achieved for the provincial equity companies and it was decided that the members Equity equity cooperative companies should be present in the meetings of provincial investment companies.

A member of the Supreme Council of the Stock Exchange stated: With the approval of the Supreme Council of the Stock Exchange, it was decided that each of the city equity cooperative companies with at least 20% of its members can hold their meetings in person and electronically, while at least 20% The members should be present and after the election, they should be present in the assemblies of the provincial investment companies.

Abdullahi added: In the context of the executive regulations of provincial investment companies, good decisions were made so that equity cooperative companies can be present in provincial investment assemblies, and the government decided to introduce the representative of provincial investment companies in equity equity investment companies with a mechanism.

Regarding the fact that some investable companies complained about the absence of an equity representative despite having a board of directors seat in their company, he said: Until now, the mechanism for the presence of an equity representative was not known and there was a gap and gap in the assemblies of equity investable companies. According to the resolution of the Supreme Council of the Stock Exchange, it was decided that within the next 3 to 4 months at the latest, this gap will be resolved and the representatives of equity shares in capitalized companies will be introduced to public meetings.

The member of the Supreme Council of the Stock Exchange said when the trading symbols of Adalat investment companies will be opened: Before the trading symbols of the provincial companies are opened, the meetings of the provincial companies must be held, the board of directors and their capital increase must be registered, and after that it is possible to reopen the trading symbols of the companies. Investment opens.

Abdullahi said: Of course, the policy is for people to stay in Adalat shareholding and not sell their valuable shares, but it will take 3 to 4 months for the trading symbol of Adalat share companies to open.

With the aim of distributing wealth between the low-income and middle deciles of the society, the policy maker started to give equity shares to 6 low-income deciles in 2005, and in this context, 49 million Iranians became equity shareholders. It was paid from the profits and earnings of these companies and equity shares were released in May 2019. After the liberalization stage, the provincial equity investment companies were formed and 30 million of the equity shareholders who had chosen the indirect method became shareholders of these companies and 19 million of the equity shareholders had chosen the direct management method, but in the year 99 due to people’s demand to sell their shares, it caused the market to fall and the value of equity shares to fall with a suitable portfolio, after which the supervisory authority closed the trading symbols of provincial companies.

Currently, in order to open the trading symbols of provincial shares, it is necessary to hold general meetings of these companies, as well as elect the board of directors, increase the capital of provincial companies and register the capital increase and clarify the financial statements, all of these issues are subject to the final formulation of the equity trading regulations in the Supreme Council. It depends on the stock market that the last meeting of this council was held on Tuesday, July 20, 1402.

According to the member of the Supreme Council of the Stock Exchange; The opening of equity trading symbols will take at least 3 to 4 months.

Source: Fars