By John Lee.
UK’s Charlemagne Capital has bought around $50 million of 18 Tehran-listed stocks, joining another British investment company, Sturgeon Capital, that bought shares in Iran’s stock market in December.
The company was reported last year to have teamed up with Turquoise Partners, a Tehran-based investment firm.
Dominic Bokor-Ingram from Charlemagne Capital told Reuters:
“The opportunity you get in Iran doesn’t appear anywhere else – the other markets that are opening up like Myanmar, Cuba or Ethiopia, they don’t even have stock exchanges.”
More than 600 companies are listed on Iran’s two stock exchanges, the Tehran Stock Exchange (TSE) — market capitalisation of $97 billion — and and the Farabourse small-cap market.