Tuesday, March 14, 2017

Iranian Freight Shipping Line May be Looking to List on London Stock Exchange

But Fear of Future Problems Belaying Listing - Report
Shipping News Feature
UK – IRAN – The Islamic Republic of Iran Shipping Lines (IRISL), Iran's main shipping line, is looking to get listed on the London Stock Exchange (LSE) but is facing issues due to investors fears that such a stock will not be viable into the future if further issues arise between the US and Iran, according to a report by Reuters. If IRISL were to get listed on the LSE it would be the first company to do so since the Iranian revolution of 1979.

According to the report the IRISL is hoping to raise millions of dollars in investment to upgrade and renew its fleet and port facilities. The company has already ordered hundreds of millions of dollars’ worth of new vessels, which would triple the value of its fleet, and the reducing of long-term sanctions by the West holds the promise of a boom in trade that IRISL will be a key player in facilitating.

However the long term sanctions, though lifted against IRISL and many of Iran’s international finance businesses last year, still cast a long shadow over proceedings and many potential investors are wary of sinking funds into a business that might again be a pariah in short order. The rhetoric between President Trump and the Iranians will have done little to assuage this suspicion.