Economics
Nuclear Deal Boosts Tehran Bourse Trade as IPO Requests Jump
- Thousands apply for market access, CEO Ghalibaf-Asl says
- Foreign investors held back by lack of brokerage links
A commuter exits a taxi as pedestrians use a footbridge overhead on 7 E Tir Square in Tehran, Iran.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Some of the most dramatic evidence of change in Iran since the nuclear agreement that brought sanctions relief to the country is visible in Tehran’s stock market.
In the past 18 months, about 193,000 people have sought permission to trade on the bourse, said Tehran Stock Exchange Corp. Chief Executive Officer Hassan Ghalibaf-Asl. At least 45 companies have asked to list their shares since the Iranian year started in March, and he expects as many as 13 initial public offerings within the 12 months, compared with seven in the previous period.