25 Startups and Knowledge-Based Companies Await Listing on Noafarin Market

Hojatollah Seydi, Head of Iran's Securities and Exchange Organization, stated that 25 startups and knowledge-based companies are currently in queue for listing on the Noafarin Market.

Seyedi emphasized the importance of small and medium enterprises, stating they should not be overlooked: "In the capital market, we have accelerated the IPO process for small and medium enterprises."

Referring to the official launch of Noafarin Market last year, he noted that this market welcomes startups and knowledge-based companies: "So far, 5 companies have been listed and we have approximately 25 pending applications [for listing]."

According to Seydi, companies seeking listing in this market must obtain authorization from the Vice Presidency for Science and Technology and provide reliable financial statements.

Noafarin Market was launched with the aim of financing the capital market and is part of the over-the-counter market. This market is a new area for trading shares of public companies, knowledge-based, creative and innovative companies.