TSEs New Listing Directive Wednesday, 16 January 2008
Irans Stock Exchange Organization (SEO) ratified Tehran Stock Exchange (TSE) s Securities Listing Directive in December 22, 2007. “Based on the new directive, since January 21, 2008, listing will be carried out by a new committee and upon the latest regulations”, stated Ali Rahmani, TSE’s managing director. He added “a committee of five members from SEO, TSE and brokers association will be formed to list the securities and companies using the new regulations.” TSE will launch its First and Second markets in the next year, and the companies in the First market can be listed in the Main or Subsidiary boards. “Companies prospectus will be provided by both the brokerage companies and investment banks. Since December 22nd 2007, pre-listing procedure is wholly accomplished by the brokers, and TSE only observes the listing process”, confirms Mr. Rahmani. Lower standards applicable to TSE’s Second market will provide suitable opportunities for fund-raising by the SMEs.