Iran’s SEO head projects strong growth for capital market
Date
12/23/2024 2:51:03 AM
(MENAFN) The head of Iran’s Securities and Exchange Organization (SEO), Hojatollah Seyedi, has projected strong growth for the country’s capital market through the end of the current Iranian calendar year, which ends in late March 2025. Speaking at the opening bell ceremony of the stock exchange, Seyedi promised 13 weeks of dynamic market activity, with one initial public offering (IPO) scheduled each week. He highlighted the stock market's outperformance relative to other sectors in the fall and stressed that the inclusion of provisions in the next year's budget bill was a crucial step in protecting shareholders' rights, which had been supported by lawmakers.
Seyedi emphasized that investors can expect a consistent flow of IPOs during the upcoming period, signaling confidence in the market's performance. His remarks underscored a sense of optimism for the future of Iran’s capital market as it enters a period of heightened activity. The SEO's focus on market revitalization is seen as a critical step in strengthening the Iranian economy and safeguarding shareholder interests.
Seyed Shamseddin Hosseini, the chairman of the Iranian Parliament’s Economic Committee, also spoke at the ceremony, likening the capital market’s recent recovery to the arrival of "spring" after a long period of stagnation. He expressed hope that the market’s positive momentum would continue throughout the winter. Hosseini acknowledged the efforts of capital market officials in revitalizing the market, noting that these efforts aim to protect the interests of the 50 million Iranians involved in the market, highlighting the growing social importance of the sector.
Hosseini further explained that the resurgence of the capital market has been supported by legislation such as the Securities Market Law and the Production and Infrastructure Financing Law. These laws have established a comprehensive framework for the development of the capital market, facilitating its growth and strengthening its role in the national economy.
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