Leader approves release of Justice Shares

Tehran (IP) - Iran’s Leader Ayatollah Khamenei on Tuesday evening approved the President's request for the release of Justice Shares in the Iranian society.

Iran Press/Iran News: Iran’s Leader Ayatollah Seyyed Ali Khamenei approved the president's request for the release of Justice Shares, noting the role of justice shares in promoting social justice and empowering low-income families, and emphasized the three issues as essential ones in these assignments.

The issues that the government should address are as the following:

1. Holders of justice shares are allowed to choose the direct ownership of the shares of venture capital firms within a specified time frame and to play their managerial role in proportion.

2. The regulations required for the transfer of shares to justice shareholders shall be developed and approved by the High Council of the Stock Exchange. These approvals are binding on all executive bodies.

3. In relation to the remaining stocks in the provincial investment companies, the High Council of the Stock Exchange is obliged to encourage the owners of the stocks in the mentioned companies and to provide the grounds for the entry of those companies in the stock exchange as soon as possible through the relevant bases.

The Leader also highlighted that the government took appropriate action as soon as possible so that the people could benefit more quickly from their stock interests.

Justice Shares had been valued at $36 billion in 2014. However, current estimates suggest the 25 listed companies and another 14 that are planning an initial public offering (IPO) would bring some $15 billion to the stock market once the Justice Shares are vested.


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