22 October 2017 - 15:29

Vienna Stock Exchange to Cooperate with Tehran's

Tehran Stock Exchange will hold the congress of 'Attracting Foreign Investment for Financing Iranian Companies in Global Markets' in cooperation with Scope Rating and KPMG, top European credit rating agencies, today.
News ID : 76486
Vienna Bourse

Regarding the meeting, Rouhollah Hosseini, Deputy of Issuers and Members of Tehran Stock Exchange, expressed that at the meeting the process of attracting foreign investment, including providing financial statements based on International Financial Reporting Standards (IFRS), using international reliable auditors' services, utilizing credit rating to decrease capital cost, accepting shares or issuing bonds in international stock exchanges concerning Iranian companies will be discussed.

"In the conference the process of issuing bonds and accepting shares based on global standards, rating and finally Vienna Stock Exchange as an acceptor of bonds as to international finance subject will be discussed", he said.

Hosseini made the remarks that in the conference, Tehran Stock Exchange will have mutual collaboration with Vienna Stock Exchange and the reciprocal acceptance of companies' shares and also accepting and issuing bonds in Austria's stock market will be considered.

The official added one of the requirements of issuing bonds in international markets is based on rating, stating three American credit rating agencies, which are top ones in the world, are reluctant to have cooperation with Iran but SCOPE Corporate is a European credit rating agency confirmed by all European stock exchanges.

Deputy of Issuers and Members of Tehran Stock Exchange voiced, therefore Iranian companies' challenge for rating in order to have acceptance in foreign markets can be removed by Scope Rating and KPMG agencies.

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