In a statement, the Tehran E-Commerce Association condemned the sudden cancellation of the Divar company’s admission meeting on the stock exchange and called on the government to stop the security institutions’ obstacles to the listing of digital economy businesses.
According to Ideaagency, the meeting of the Divar admission board at the stock exchange, which was scheduled to be held on March 12, was suddenly canceled , and Ashkan Mir-Amandhei, Divar’s CEO, announced that the reason for the cancellation of the meeting was the issuance of the necessary approvals by security institutions.
The Tehran E-Commerce Association wrote in its statement: “Despite having millions of users, digital economy businesses have played an important role in providing services and improving the quality of life of people; but unfortunately, security and arbitrary behavior have prevented the users of these businesses from becoming their owners through the stock exchange.”
The association added: “With the coming to power of the new government, there was hope that there would be a change in the wrong and failed practices of the past, but unfortunately, those practices still persist. The Tehran E-Commerce Association, while condemning and expressing regret over the security of the country’s digital economic space, reminds us of the government’s role in creating security for economic activities.”
The statement continued: “In the current situation, where the country’s economic situation and the ever-red color of the stock exchange board speak for themselves, what is the purpose of preventing one of the country’s most successful digital economy companies from entering the capital market, which was being done at the request and follow-up of the stock exchange officials themselves?”
“The arbitrary and illegal actions of some security agencies against digital economy businesses initially drove away foreign investors and in recent years have disappointed and discouraged domestic investors and entrepreneurs in the country. In such a situation, both in previous and current governments, we unfortunately witness that in a structural and irresponsible inaction, there is no effective support for the entry of digital economy businesses into the stock market.”
The Tehran Electronic Commerce Association further raised the question, “Is the responsibility for the listing of digital economy businesses in the hands of security institutions?” and warned that “the consequences of stumbling on the path of digital economy growth will affect all sectors of the country’s economy, and other industries in the country will also be directly and indirectly affected by this event.”
The Tehran E-Commerce Association has called on the government to stand against illegal and extra-legal behaviors and to find solutions to baseless obstacles to the entry of digital economy businesses into the stock market.
The Tehran E-Commerce Association’s statement concludes: “This trade body has always expressed its readiness for dialogue, cooperation, and comprehensive interaction with legislative bodies, but the question is, where is the end point of these behaviors and how can we discuss it? The hope is that with the wisdom of the three powers, the entry of mature businesses in the country’s digital economy into the stock market will be facilitated, and we will be able to deliver the fruits of the digital economy to the people through transparent stock market mechanisms.”
According to the report, Divar began its efforts to enter the stock exchange in 2021, but it always faced security obstacles. According to Armandhi, with the withdrawal of Sarava from the company’s shareholder structure, it was hoped that the obstacles would be removed, but the sudden cancellation of the admission meeting showed that security challenges still persist. Divar’s CEO announced that the company had submitted all the necessary documents and even the Ministry of Intelligence had issued the necessary approvals.
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