According to the communication and information center in the Vice Presidency of Science, Technology and Knowledge-Based Economy, Noafrin Bazaar as the newest OTC market in Iran, was unveiled today with the presence of Ruhollah Dehghani, Vice President of Science, Technology and Knowledge-Based Economy, Head of Bahadur Stock Exchange Organization and The CEO of Iran Exchange.

The focus of this market with two growth and knowledge-based boards is to accept innovative companies, technology and new industries.

These companies enjoy all the benefits of the first and second markets, including tax exemption, share approval, ease of financing through capital market tools, the ability to trade shares, and so on.

At present, 10 knowledge-based companies have applied for admission to this market, three of which have been accepted and 30 companies are candidates for admission to the growth board.

  According to Mohammad Ali Shirazi, the CEO of Iran Foreign Exchange, knowledge-based companies, creative companies, technology companies, and companies active in the field of digital economy are accepted in the innovative market.

The minimum registered capital of these companies must be 10 billion Tomans and they must have proper corporate governance.

The latest financial statements of the companies have been prepared in accordance with the accounting and financial reporting standards and they have obtained a knowledge-based license approved by the Vice Presidency of Science.

The conditions for admission to the innovative market growth board are that the total equity of the shareholders is at least 10 billion Tomans and at most 500 billion Tomans. The company must provide a clear vision of profitability.

Also, companies that have missed the admission requirements in the knowledge-based board and companies that are eligible for the first and second markets but due to reasons such as the newness of the industry in the capital market, are accepted in this board at the suggestion of the admission board.