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  • 05-01-21

    Iran: Government to transfer remaining shares in framework of three ETFs

    (MENAFN)The government is permitted to provide and sell its remaining shares in the state-owned companies in the typical way or through the exchange-traded funds (ETFs), stated Note 2 of the budget law of the present Iranian year.

    The cabinet permitted the Ministry of Finance and Economic Affairs to move the remaining government shares in the framework of three ETFs, following current legal capacity, at the beginning of the current year.

    An ETF is an investment fund traded on stock exchanges, much like stocks. It contains assets like, stocks, commodities, or bonds and generally operates with an arbitrage mechanism set to keep it trading close to its net asset rate, although divergences can infrequently take place.

    The government sold shares in three banks and two insurance companies through the first exchange-traded fund (dubbed Dara First) in May, last year.

    MENAFN05012021000045011369ID1101385659

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