Establishment of a "joint venture fund" of large mining companies
By creating a mutual fund, those Imidro subsidiaries that do not have a market maker can support their share. In this regard, Dr. Hassan Qalibaf Asl announced that marketing licenses for companies without marketing will be issued within two days after submitting the application.
According to the Iran International Stone Exhibition, this news was announced in a symposium between the Chairman of the Stock Exchange Organization, the Chairman of the Economic Commission of the Parliament and the Chairman of the Organization for Development and Renovation of Mines and Mining Industries (Imidro) with managers of mining companies.
In this meeting, the head of the Stock Exchange and Securities Organization considered the entry of investors into the capital market during the last year as an important opportunity for the national economy and financing the productive sector of the economy and said referring to the decisions taken to develop the market. And through ranking, it is one of the decisions taken in the stock exchange organization and "Mobarakeh Steel" company as the first company with a volume of ten thousand billion tomans took advantage of this possibility. This method has good potential for financing metal and mining companies, especially Imidro Group companies, which have good financial strength.
He referred to other measures taken in the Exchange and Securities Organization and said: the time for issuing licenses to increase capital was reduced to 5 days; This way, companies will no longer be delayed in obtaining their licenses.
The head of the Stock Exchange and Securities Organization referred to the parliament's decision to increase capital from the place of spending shares and added: "This resolution allows companies to increase capital based on the current price and market value, and in addition be subject to 20% tax advantage."
Tax exemption for marketing funds
Dr. Qalibaf also considered the decision of the Supreme Council of the Stock Exchange to oblige companies to use marketing as a guarantee for the implementation of marketing in the stock exchange and said: "Marketing was one of the market challenges in recent years, which will be guaranteed by this decision;" Accordingly, all companies, especially fifty large companies, are expected to begin this process in the coming days. Marketing means balancing the market by controlling the supply and demand of stocks.
Establishment of a joint marketing fund of "Imidro" companies with the aim of supporting shares
He praised the establishment of a joint marketing fund of "Imidro" companies with the aim of supporting the shares of these companies and said: "These funds can, in addition to marketing, also issue subordinated securities approved by the Supreme Exchange Council instead of spending liquidity."
Dr. Qalibaf stated: "Today, with the notification of a letter to the stock exchange company, it was announced that marketing is necessary so that they also inform the companies and major shareholders about this issue."
Parliament continues to support the capital market
In the continuation of this meeting, Mohammad Reza Poorabrahimi, the head of the economic commission of the parliament, referring to the daily creation of 1,500 billion tomans of liquidity in the country, said that the capital market has sufficient capacities to attract this amount of liquidity.
The representative of the Islamic Consultative Assembly, emphasizing the need to manage this liquidity, said: "Currently, the capital market is in exceptional conditions and should use this historic opportunity."
"Imidro has set up a joint fund to support mining companies and related industries in the capital market, and it is hoped that other major shareholders and listed companies will follow suit," he said. To use.
He added: "Tomorrow, in the presence of the Governor of the Central Bank, the Minister of Economy and capital market managers, and following today's closed-door meeting, the operational methods of supporting the capital market will be reviewed and the topics will be announced."
Poorabrahimi continued: "Capital market is a powerful and effective market in the economy, and the parliament uses all its efforts to support the maximum capacity of this market and supports the capital market."
Twenty percent share (floating stock) of companies in the fund
At the end of the meeting, it was decided to set up a portfolio fund to support Imidro subsidiaries. Companies each own 20% of their floating stock in this marketing fund; It was also approved to design a precise mechanism for the implementation of this fund in a committee with the presence of Ali Sahraei, CEO of the Tehran Stock Exchange and "Imidro".
Also, at the end of the meeting, the Chairman of the Economic Commission of the Parliament announced that tomorrow, in the presence of the Governor of the Central Bank, Minister of Economic Affairs and Finance and capital market managers and following a closed session, operational methods of supporting the capital market will be reviewed and topics will be announced.
* ILNA
