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Tehran Stock Exchange
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Brilliant
performance in a short span
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As one of the most essential components
of a cohesive and thriving capital market, the "Stock
Exchange" plays a decisive role in attracting the
deposits and leading the scattered and floating capital
(s) to the proper economic directions. Along with the
world-wide development of the share and stock market
the "Stock Exchange" also has gained more
significance in the Islamic Republic of Iran, during
the recent years.
Due to implementation
of the First-Five Year Economic Development Programme,
ratification of the specific laws allowing the cession
of the shares of the state companies to the private
sector, and active engagement of the said sector in
the country's economic infrastructure "Tehran Stock
Exchange" indicated a rapid growth and by the end
of 1373 (Solar Calendar) 1994-1995 fiscal year, only
six years after its inception, its volume of transaction
remarkably increased to Rls.188.5 bn. Demonstrating
a 123% increase in the coefficient of the shares' total
price in 1995, as compared with that of the 1993 fiscal
year, "Tehran Stock Exchange" stood in the
first position well ahead of the North African and the
Middle East countries.
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| The necessary measures
taken in 1995 |
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Stock Exchange's share, in support
of financial resource- orientated new investments,
increased to 3% from that of only 1%. Therefore
constituting a unique growth among all Middle
Eastern countries.
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The number of transacted shares
exceeded 430 million in 1995, showing a 200% increase
vis-a-vis that of the previous year.
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The number of active membership
in Tehran Stock Exchange, after acceptance of
40 new members, reached a total of 195 companies.
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Currently the list of conditionally
accepted members contains 28 companies out of
which 18 are already omitted, not meeting the
necessary requirement.
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The list also included 30 suspended
companies.
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The number of applicants willing
to join the stock market currently stands at 48.
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The pattern of support for financial
resources of the companies, via the increase of
their available capitals, has continuously been
enhanced due to implementation of the relevant
incentive policies by numerous banks. Thus, showing
a 1900 billion Rial figure by the end of 1995
fiscal year as compared to that of only Rls. 17.2
bn. in 1980.
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A
few significant features of the 1996 programme:
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In compliance with the Second
Five-Year Programme and for further expansion
of the activities of the stock exchange, in addition
to five existing satellite stations in cities
of Mashhad, Tabriz, Kerman, Isfahan and Ahwaz,
new satellite stations would soon be installed
in other cities such as Yazd, Sari, Rasht, Zahedan
and Oroumieh in 1995.
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Specific efforts were also made
in 1995 for stabilising the rate of "share
gains tax" and reducing service charges or
the commission on all transacted shares, to only
2%.
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The inception of "Share
Distribution Fund "has already provided all
the necessary means for the rapid transfer of
the relevant shares, particularly due to direct
introduction of such shares into stock exchange
organisation and the issuance of their respective
transfer licenses
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