Iranian Corporate Issuing Sukuk on Tehran Stock Exchange

Tose’e Melli Mining and Industries Company is raising 1.62 trillion rials ($45.8 million at market exchange rate) through the first-ever sale of Estensa (Istisna) Sukuk on the Tehran Stock Exchange.

The domestic deal which is planned for Nov. 23 was reported in Iran as paying 23% profit annually with a three year maturity for the purpose of raising funding for two iron ore concentrate and pellet plants.