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We will protect the interests of shareholders

Shapour Mohammadi, the president of the Securities and Exchange Organization of Iran, says that the capital markets regulatory body attempts to demystify the business situation of iron ore industry as one of the most important and strategic industry in the stock exchange.

(SHADA: TEHRAN) -- Because of the problems in pricing iron ore and the needs of stakeholders and beneficiaries, a formula has been determined to price iron ore by the Securities and Exchange Organization, Shapour Mohammadi said.

Actually, we are trying to link all iron ore and other mineral products produced by the private sector to world prices, and determine domestic prices in accordance with it, the president of the Securities and Exchange Organization said.

According to Mohammadi, the formula has been prepared on the basis of world prices.

Stating that debt securities will be issued in accordance with the capital market, he said: Our priority is to protect and support the stock market and to finance the debt market, and the private sector should be controlled too.

We will try to limit the volume of debt securities, Mohammadi said, adding: According to the law, the Securities and Exchange Organization is in charge of supplying debt securities, but it cannot disregard their volume.

It is the Organization's duty to pay attention to the demands of shareholders, and we will definitely safeguard their interests, he stressed.

In the end, Mohammadi stated that the private sector can also issue debt securities if it observes the capacity of the capital market as well as the limit considered for debt securities.