Question 1

What does a stock-exchange listing do for a business?

Accepted Answer

A listing makes capital-market financing easier to reach, raises transparency and credibility with banks, customers and partners, and gives shareholders liquidity and transparent pricing. In return, it brings disclosure and corporate-governance obligations.

Question 2

How long does the listing process take?

Accepted Answer

It depends on the company's readiness: its financial statements and audit, its legal structure (including converting to a public joint-stock company if needed) and the review stages at TSE or IFB. A ready company needs a few months; one that must restructure needs longer. The exact timeline follows the readiness assessment.

Question 3

What if the company doesn't meet the listing conditions yet?

Accepted Answer

The readiness assessment shows the gap to the listing conditions, and we propose a plan to close it (for example financial statements, capital structure or governance). Meanwhile, other financing routes such as sukuk or supply-chain finance are reviewed too.

Question 4

Does being admitted to the exchange mean shares are offered?

Accepted Answer

No. Admission means the company meets the entry conditions and is added to the list of admitted companies; the initial public offering is a later step in which part of the shares is sold to the public for the first time. Each step has its own requirements and timeline.

Question 5

What financing and growth opportunities does entering the capital market open up?

Accepted Answer

A listed company can raise funds more easily through share offerings, capital increases and debt securities. The transparency that comes with being listed also strengthens its standing for larger contracts and strategic partners.

Question 6

TSE or IFB: which market suits your company?

Accepted Answer

The Tehran Stock Exchange generally suits larger companies with an established profit record, while Iran Fara Bourse, with more varied markets, admits a wider range of companies (including smaller and knowledge-based ones). The choice depends on capital, profit history and plans, and is recommended in the readiness assessment.

Criterion	Share offering on the exchange	Bank loan
Funding ceiling	Depends on the company's valuation and the share of equity offered.	Limited by the company's credit line at the bank, its collateral and large-exposure rules.
Term	Permanent capital with no maturity.	Mostly short-term (about one year) and renewed; project loans run longer.
Repayment	No repayment; new shareholders share in profits and growth.	Monthly instalments or a lump sum at maturity, per the contract.
Rate and effective cost	No interest rate; the cost is new shareholders' share of profits and value, plus listing and disclosure costs.	Nominal rate within Money and Credit Council limits; fees and side requirements (such as compensating deposits) push the effective rate higher.
Collateral and guarantees	No collateral; transparency, disclosure and corporate governance are required instead.	Property collateral, cheques and promissory notes, and guarantors.
Time to funds	A few months or more, depending on readiness for admission and the offering.	A few weeks to a few months, depending on the bank and how complete the file is.

Listing & IPO advisory

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Compared with a bank loan

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Capital-market financing

Money-market financing

Supply-chain finance