IRISL seeking London Share Listing

By John Lee.

The Islamic Republic of Iran Shipping Lines (IRISL) has reportedly held meetings in London to discuss a possible listing on the London Stock Exchange (LSE).

The company was removed from sanctions blacklists last year, and has already placed an order for new ships estimated to be worth $626 million.

But according to a report from Reuters, its attempts to list in London have so far been thwarted by fears of US sanctions.

Reuters quotes sanctions lawyer Nigel Kushner as saying that in the current climate it is “wholly unrealistic for IRISL to expect to pull off a listing in London.

Other sources have suggested that if it is still too difficult to list in London, Iranian companies could instead list on Italy’s Borsa Italiana, which is part of the LSE Group.

(Source: Reuters)

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