Markets in Brief 09.02.2018

Tehran Stock Exchange (TSE) started the week with 0.8 percent decline in its overall index, TEPIX. However, TEPIX recovered part of its fall over the week to closed at 98,300 points on Wednesday.

Social Security Investment Co (SHASTA), a subsidiary of the Social Security Organisation, announced its plan to transfer 105 companies out of its 157 entities. These 105 companies are said to be loss-making firms and their total value has been estimated to reach 160 trillion IRR (4.3 billion USD). Nearly half of these companies have already been sold.

The Government offered its shares at Alborz Insurance (17.34%) and Asia Insurance (18.84%) as a unique block, worth $24m and $23m, respectively. However, as the qualification of the buyers was not confirmed, the shares will be re-offered within a month. See the charts above.