Taminmali — Iran Financing News in English

Capital-Market Financing Up 42% in First Half of 1405

Total financing through the capital market reached 899,000 billion tomans in the first half of 1405, up 42% year on year and equal to about 51.5% of last year's total financing. By method, equity issuance and capital increases accounted for 205,385 billion tomans, debt securities for 676,357 billion tomans and crowdfunding for 16,869 billion tomans. The government's share of debt securities was reported at 86.1%, the non-government sector at 11.1% and municipalities at 2.8%, while outstanding debt securities rose from 1,383 trillion tomans in Shahrivar 1404 to 2,243 trillion tomans in Shahrivar 1405.

Subscription Opens for 5-Trillion-Toman Sirjan Steel Murabaha Sukuk on Tehran Stock Exchange

Subscription for the murabaha sukuk of financial intermediary Mordad Panjom, issued to finance Foolad Sirjan Iranian, runs from 27 to 29 Mehr 1405 on the Tehran Stock Exchange. The 5,000-billion-toman issue is offered in two 2.5-trillion-toman tranches under the symbols Sasko907 and Sasko97, at a 23% annual rate, with a four-year maturity to 1409.07.27 and quarterly coupon payments, to fund raw-material purchases. Mellat Investment Bank is the underwriter and market maker for the Sasko907 symbol.

Sirjan Steel Raises 2 Trillion Tomans via Iran Mercantile Exchange

The initial offering of parallel standard salam securities (steel billets) of Foolad Sirjan Iranian, worth 20,000 billion rials, will take place on Saturday, 2 Aban 1405, on the Iran Mercantile Exchange to fund working capital. The offering totals 41,270 tonnes in 2,370,300 contracts priced at 8,437,720 rials per 10-kilogram contract. Secondary trading in the securities begins on 3 Aban 1405 and continues until 2 Aban 1407.

500-Billion-Toman Caspian Tamin Murabaha Subscription Opens 26 Mehr on IFB

Subscription for Caspian Tamin Pharmaceutical's murabaha bonds, symbol Caspian09, runs from Sunday, 26 Mehr, to 28 Mehr 1405 on the Iran Fara Bourse's new financial instruments market. The 500-billion-toman issue comprises 5 million bonds at a 23% annual rate, a 48-month tenor maturing 1409.07.26, with quarterly coupon payments. Proceeds will fund working capital for raw-material purchases; the bonds carry a long-term A- and short-term A1 credit rating from Paya, have no underwriter, and Saba Tamin Brokerage acts as selling agent.

Dayo Pars Issues 300-Billion-Toman Murabaha; Kimia Investment Bank Named Underwriter

Subscription for Dayo Pars murabaha bonds, symbol Dayo09, will be held by auction from Sunday, 26 to 28 Mehr 1405 on the Fara Bourse. The 300-billion-toman issue comprises 3 million bonds at a 23% annual rate with a 28-month tenor; the issue date is given as 1405.07.26 and maturity as 1409.07.26. Kimia Investment Bank is both underwriter and market maker for the bonds, whose proceeds will finance raw-material purchases.

Editor’s note: the source gives both a 28-month tenor and a maturity date of 1409.07.26; these are inconsistent as reported and are reproduced here as given.

Islamic Treasury Bills Akhza5041 to Debut Tuesday on Fara Bourse

Iran Fara Bourse has announced the initial offering of Islamic treasury bills under the symbol Akhza5041 on Tuesday, 28 Mehr 1405. The bills, issued 1405.05.10 and maturing 1408.05.09, have a face value of 1 million rials each and are registered and tradable on the Fara Bourse. The minimum initial offering volume is 10,000 bills and the trading lot is 200,000 bills; the closing price on the opening day will be the day's weighted average trading price.

Crowdfunding Overtakes Corporate Bonds on IFB; 19 Trillion Tomans Raised in Six Months

The CEO of Iran Fara Bourse said crowdfunding reached 18,928 billion tomans in the first half of 1405, exceeding all of last year's crowdfunding total. In the period, 750 projects were financed, up 123% from 337 projects in the same period of 1404. For the first time, the volume of crowdfunding through the Fara Bourse has surpassed corporate bond subscriptions, and its share of total debt financing on the Fara Bourse reached 51%, compared with less than 1% in 1400.

Crowdfunding Volume Surpasses Corporate Bonds

According to the CEO of Iran Fara Bourse, crowdfunding volume in the first seven months of 1405 rose from 8.5 to 21.5 trillion tomans, and the number of financed projects from about 450 to nearly 820. The crowdfunding default rate was put below 1%, at around 0.8%, falling to about 0.2% when platforms whose licences were revoked are included. Crowdfunding's share of all debt-based instruments on the TSE and Fara Bourse rose from 0.4% in 1400 to 32.4% in the first half of 1405, and in that half its 18,928-billion-toman volume exceeded Islamic financial bond subscriptions on the Fara Bourse of 18,530 billion tomans.

Crowdfunding Volume Reaches About 58 Trillion Tomans

According to Tasnim, the CEO of Iran Fara Bourse has said crowdfunding volume has reached about 58,000 billion tomans. The full text of this news item did not render properly on the source page, so this summary is limited to the headline fact and the statement attributed to the Fara Bourse CEO.

Editor’s note: headline-only summary — the full source text was not accessible.

Economy Ministry Calls for Outright Purchase of Government Bonds Maturing by End of 1405

The Ministry of Economic Affairs and Finance has invited holders of general government murabaha bonds and Islamic treasury bills maturing by the end of 1405 to register sell orders on Saturday, 2 Aban 1405, between 9:00 and 12:00, through Fara Bourse member brokerages on the Farasan system. The minimum order size is 5 million bonds, and uploading a stamped and signed image of the sell request is mandatory. Trading in accepted bonds will take place on Tuesday, 5 Aban, with the Central Bank's independent trading station acting as buyer.

Government Sells Financial Bonds at 23% Profit Rate

To select primary dealers for government Islamic financial bonds, the Ministry of Economic Affairs and Finance will hold a price quotation on Monday, 13 Mehr 1405, from 9:00 to 12:00, via the Tehran Stock Exchange Technology Management Company's quotation system. The bonds are general murabaha type with a face value of 1 million rials per bond and a 23% annual nominal profit rate, with coupons paid every six months. Maturities run at most to the end of Bahman 1407 and 1408, and the minimum purchase amount during the contract period is 15,000 billion tomans for the 1407 maturity and 30,000 billion tomans for the 1408 maturity.

Production Tamin-Yar Card Rules Issued; Business Working Capital Financing Eased

The executive rules for the Production Tamin-Yar Card, a credit financing tool based on GAM (productive credit certificate) bonds, were approved at the Central Bank's Monetary and Credit Operations Commission on 8 Mehr 1405 and then communicated to banks. The card targets licensed individuals, including production, distribution and service guilds, and each applicant's credit ceiling is at most five times the interest-free loan ceiling for guilds — 50 billion rials. The card is valid for at most six months, purchases of goods and services are funded by issuing GAM bonds in favour of the acceptor, and customer obligations to the bank are repaid in instalments over at most 24 months.

Fara Bourse Operating Revenue Jumps 230%; 709 Billion Tomans in First Half

Iran Fara Bourse reported operating revenue of 709 billion tomans in its interim six-month financial statements for the period ended Shahrivar 1405, up 230% year on year. Gross profit grew at the same 230% rate to 709 billion tomans, and net profit rose 141% to 23 billion tomans. Earnings per share were 386 rials and registered capital was 1,580 billion tomans.

Exchange Revenues on the Rise; Tehran Stock Exchange Tops the Table

In the first half of 1405, Iran Mercantile Exchange earned 4,168 billion tomans, Tehran Stock Exchange 1,511 billion tomans, Iran Fara Bourse 709 billion tomans and Iran Energy Exchange 236 billion tomans in operating revenue. Revenue growth for the four exchanges versus the same period last year was 184%, 215%, 230% and 131% respectively. In the six months, the exchanges realised 99% to 134% of their full-year 1404 revenue — far above the standard 50% half-year ratio.

Mana Mellat Currency Fund Ceiling Raised 100%

After the initial $10 million capacity of the Mana Mellat currency fund was fully taken up, the Securities and Exchange Organization approved a 100% increase in the fund's investment-unit ceiling. Subscription for the fund — the country's first currency investment fund — began on 25 Shahrivar 1405 and closed in early Mehr after fully absorbing the projected resources. About 90% of the funds raised came from small retail investments in banknotes and the remaining 10% from currency remittances; the fund is managed by Mellat Investment Bank.

Details of Subscription and Mechanism for Second Currency Fund

Subscription for the Kimia National Currency Fund, the capital market's second currency fund, begins on Tuesday, 28 Mehr 1405, at Bank Melli Iran's foreign-exchange branches. The fund was established with $10 million in initial capital, with the participation of the National Iranian Copper Industries Company, Bank Melli Iran, and management by Kimia Investment Bank; the minimum investment is $100, equal to ten $10 units. Fund resources are invested in currency deposits, currency deposit certificates, currency murabaha bonds and other currency instruments, and its projected return is about 5% per year in foreign currency.

In-Principle Approval Issued for a New Gold Fund

The Securities and Exchange Organization's Investment Fund Supervision Center has issued in-principle approval for Tavoos Khavarmianeh Investment Bank to establish a tradable commodity-certificate-based investment fund in the gold-metal segment. The fund's size is set at a minimum of 50 million and a maximum of 500 million investment units, each with a face value of 10,000 rials.

Why Lotus Parsian's Operating Profit Changed

Lotus Parsian Investment Bank has said its operating profit for the current fiscal year rose 35% versus the same period last year. The company attributed the growth to more underwriting commitments and bond market-making, as well as a larger volume of investment funds under management. According to the company, growth in fee income from these two factors provided more resources for investment, and together they drove the operating-profit increase. The exact publication date was not given on the source page; only the Shahrivar 1405 timeframe is citable.

Lotus Parsian: Revenue Up 50%, Net Profit Jumps 66%

In its nine-month financial statements to Mehr 1404, Lotus Parsian Investment Bank reported operating revenue of 4,429 billion tomans, up 50% from 2,957 billion tomans a year earlier. Gross profit rose 66% to 3,582 billion tomans and net profit increased 66% from 1,787 billion tomans to 2,965 billion tomans. The company's latest registered capital was 6,500 billion tomans and earnings per share were 456 rials.

Tamavand Announces New Underwriting Commitments

Damavand Investment Bank has announced it has taken on underwriting and market-making commitments for the ijara sukuk of Golgohar Iron and Steel Development Company, symbol Sogol504. The bonds carry a 23% annual profit rate and were issued with maturity 1405.04.18. Total underwriting and market-making income from the bonds was put at 4,800,000 million rials, comprising 1,250,000 million rials of underwriting income immediately after subscription and 3,550,000 million rials of market-making income to be recognised over two years. The exact publication date was not given on the source page; only the Shahrivar 1405 timeframe is citable.

Tadavam Fund Assets Jump 146%

Assets under management of the Tadavam Etminan Tamadon fund rose 146% from 14.8 thousand billion tomans at the end of 1404 to 36.5 thousand billion tomans by 25 Mehr 1405, while the average growth of the 15 largest funds in the same peer group was 83% over the same period. The fund's market share of total tradable fixed-income funds with accumulating profit rose from 2.6% at the start of the year to 3.5% on 25 Mehr, ranking it eleventh in the group by assets under management. Its daily-compounded return was put at a 40% annual rate, and the fund is managed by Tamadon Investment Bank.

500-Billion-Rial Takran Mobarred Campaign Launches on IB Crowd

According to the list of news items related to Tamadon Investment Bank on Atlas-e Eqtesad, a 500-billion-rial campaign by Takran Mobarred on the IB Crowd crowdfunding platform, affiliated with Tamadon Investment Bank, launched on 23 Mehr 1405. Further details of the campaign were not published in an independent news text, and this summary is limited to the headline fact.

Editor’s note: headline-only summary — the full source text was not accessible.

Amin Investment Bank at the Bottom of the Table; Lotus Parsian Leads

In the investment-bank industry comparison published by BourseNews, Amin Investment Bank, with 17.5 thousand billion tomans in assets under management and 1,351 billion tomans in revenue for the first five months of 1405, posted the lowest figures among the companies surveyed, and its five-month operating revenue fell 15% year on year. By contrast, Kimia Investment Bank topped the growth table with 147% revenue growth, and Lotus Parsian, with 312 thousand billion tomans in assets under management, is the industry's largest company by that measure.

Sepehr Investment Bank: 62 Trillion Tomans in Assets Under Management in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Sepehr Investment Bank was estimated at 62,000 billion tomans. In the ranking, Lotus Parsian leads with 312,000 billion tomans, followed by Mellat Bank with 194, Tamadon with 164, Kardan with 156 and Novin with 107 thousand billion tomans. No separate five-month revenue figure was given for Sepehr Investment Bank in the report, and no fresher dedicated news item about the company was found in searches.

Omid's Nine-Month Net Profit Reaches 3,097 Billion Tomans, Up 62%

In its nine-month financial statements to Shahrivar 1405, Omid Investment Bank reported net profit of 3,097 billion tomans, up 62% year on year. Operating revenue rose 25% to 5,440 billion tomans, gross profit increased 72% to 3,731 billion tomans, and earnings per share were 890 rials. The company attributed the more-than-30% change in operating profit to improved conditions on the Tehran Stock Exchange over the nine months and a 68% rise in operating profit versus the same period last year.

Omid Investment Bank Gets a New CEO

By order of the CEO of Omid Investment Group, Mohammad Sorayanejad has been appointed as the new CEO of Omid Investment Bank. The management change follows the resignation of Ali Pazooki from the CEO post. Sorayanejad previously ran Bank Melli Iran's brokerage.

Novin (Tanvin) Distributes 390 Rials Dividend per Share

The annual general meeting of Novin Investment Bank, symbol Tanvin, was held with more than 90% of shareholders present and approved a cash dividend of 390 rials per share, equal to 78% of distributable profit. The CEO told the meeting that the group's assets under management had reached 67,000 billion tomans and that the company issued about 3.7 thousand billion tomans in bonds last year. Eleven investment funds are also active within the Novin Investment Bank group.

Kardan's Nine-Month Net Profit Jumps 120%

In its interim nine-month financial statements to 1405.06.31, Kardan Investment Bank reported net profit of 3,742.3 billion tomans, up 120% from 1,698.3 billion tomans a year earlier. Operating revenue rose 77% to 7,132.8 billion tomans and gross profit increased 123% to 4,309.3 billion tomans. Operating profit grew 127% to 3,890.9 billion tomans and basic earnings per share were 748 rials.

Takardan Prepares a Capital Increase

The board of Kardan Investment Bank has approved a 67% capital increase from about 3,000 billion tomans to about 5,000 billion tomans, funded from retained earnings. The stated aim of the increase is to prevent cash outflow following dividend distribution and to benefit from the tax exemption in Article 14, Clause (th) of the Production and Infrastructure Financing Law. The increase is subject to obtaining the necessary licences from the Securities and Exchange Organization and approval by an extraordinary general meeting of shareholders.

Bank Maskan Investment Bank: 61 Trillion Tomans in Assets Under Management in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Bank Maskan Investment Bank was estimated at 61,000 billion tomans. In the ranking, Lotus Parsian leads with 312,000 billion tomans, followed by Mellat Bank with 194, Tamadon with 164, Kardan with 156 and Novin with 107 thousand billion tomans. No fresher dedicated news item about Bank Maskan Investment Bank was found in searches, and this item is recorded solely on the basis of the industry comparison.

Khalij Fars Investment Bank: 21.7 Trillion Tomans in Assets Under Management, 80% Revenue Growth in Industry Comparison

In the investment-bank industry comparison published by BourseNews, the value of funds managed by Khalij Fars Investment Bank was put at 21.7 thousand billion tomans and its revenue for the first five months of 1405 at 675 billion tomans, up 80% year on year. The company, together with Amin Investment Bank at 17.5 thousand billion tomans, was presented as the smallest investment banks by capital attracted in the comparison. No fresher news item about the company in a standalone page was confirmed in searches, and this item is based on the industry comparison.

Tavoos Khavarmianeh Investment Bank Realises 184 Billion Tomans in Profit

In the six-month period to 1405.06.31, Tavoos Khavarmianeh Investment Bank recorded operating revenue of 210 billion tomans. Given its newly obtained operating licence and the absence of operating activity in the same period last year, these figures mark the start of its operating revenue formation. Gross profit was equal to total operating revenue, 210 billion tomans, and after deducting 21 billion tomans in administrative and general expenses and 4 billion tomans in other operating expenses, operating profit was 186 billion tomans; after recognising 2 billion tomans in tax, net profit of 184 billion tomans was realised.

Expanding Underwriting and Market-Making Commitments Drives Takimia's Profit Surge

In the six-month period to 31 Shahrivar 1405, Kimia Investment Bank recorded 187% growth in operating profit and 196% growth in net profit versus the same period last year, while pre-tax profit rose 195%. According to Bourse24, the trend was driven by new contracts, expanded underwriting and market-making activity, and income recognised from changes in the value of investments.