Why did Esteghlal and Persepolis stay off the OTC market?
According to Tejarat News, Hojjat Esmailzadeh said about the process of accepting Esteghlal and Persepolis club teams in the OTC market: “There has been a discussion about the entry of Esteghlal and Persepolis sports teams into the capital market for a long time. Due to the non-standard financial characteristics of these two sports teams, they are not able to participate in the main market, and after the summaries, it was decided that these companies would enter the basic market first.
Ismailzadeh, noting that these companies have a slow process of acceptance due to their special conditions and characteristics, said: “Currently, Esteghlal and Persepolis teams are going through the process of generalization in the stock exchange organization, and if during this process quickly To be done and become a public company will be examined in the OTC listing committee.
Regarding the time of entry of these two teams into the capital market, he said: “It is not possible to announce the exact time of such companies, but Esteghlal and Persepolis are currently in the process of going public with the stock exchange organization.”
Iran’s OTC Admission Deputy, pointing out that until the end of December, 28 meetings of the Admissions Board were held, which was an average of three to 4 meetings per month, said: Is Tomans.
He pointed out that 32 companies have been accepted and entered the registration stage during the first 9 months of this year, adding: “These symbols will be gradually ready to be offered. Also, 13 companies have been introduced in the first 9 months of this year. The base market was the initial public offering to the main OTC markets, the opening of the symbol and 10 symbols.
Esmailzadeh, pointing out that the above 10 symbols of financing amounting to 3 thousand and 250 billion tomans in the OTC market, said: During this period, 6 companies have been underwritten, including 5 insurance companies and one financing company, and a total of about 520 billion They also financed Toman through underwriting.
Iran’s OTC Admission Deputy, pointing out that in the first 9 months of this year, 7 companies have been listed in the basic market and 4 transactions are being made in the intellectual property market, continued: Check them out, qualify companies to move to the main market. In the process, six companies were accepted and transferred to major markets in the coming months.
Regarding the process of entering the capital market of projects, he said: “These companies have a specific framework and instructions announced by the Exchange Organization and the goal is to develop the primary market and finance companies from micro-capital to develop projects that are at the starting point.” Be provided. The minimum capital of the projects company should be 500 billion Tomans and they should submit their application in the form of a public joint stock company about to be established.
Ismailzadeh pointed out that the project companies first send the generals of the plan to the admission board for review. It is done in OTC.
Noting that the instructions for the project company have specific coordinates, he said: “In this instruction, the minimum profit is specified and it has supervisions such as technical supervisor, financial supervisor and official expert. In general, efforts are made to optimize the instructions, but the instructions can be changed.” It has more and in this regard, proposals have been sent to the stock exchange organization and the instructions will be improved in the coming months.
Source: stamp