Iran in Talks to List Holding Company to Entice Investors
The Dubai International Financial Exchange may have a new company listing, according to the Middle East Economic Digest (MEED). Iran is reported to be considering the listing of a $90 billion energy holding company that would create the opportunity for investments in the oil and gas industry of the Middle East country.
Gulfnews.com reported in February that under the holding company, Iran is seeking to privatize 47 companies in the country's energy sector. At that time, a National Iranian Oil Company (NIOC) executive claimed the holding company would be listed on four international exchanges.
MEED reported that Iran is in talks with the Dubai exchange and is also considering the possibility of a joint listing in Europe or Asia.
"We decided the Iranian stock exchange may need to have some support financially from outside stock exchanges, especially for the oil sector, because the money involved is too much" for Iran, NIOC Director of International Affairs Hojatollah Ghanimi-Fard told MEED.
Iran opened its Oil and Petrochemical Products Bourse on the island of Kish in mid-February.
Sanctions imposed on Iran by a United Nations Security Council vote approved March 3 has restricted foreign trade. The sanctions were put into place because Iran has declined the U.N. request to suspend a nuclear program.
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