Iran’s shipping line: No plan for London Stock Exchange listing
By Trend
Iran’s top cargo shipping company, the Islamic Republic of Iran
Shipping Lines (IRISL), rejected reports about its attempts for
being listed on the London Stock Exchange.
The IRISL has no plan to offer its shares on the London Stock
Exchange (LSE), the company announced, Mehr news agency reported
March 14.
Earlier Reuters in a report claimed that the company has held
meetings
in London to discuss a possible listing on the LSE, but has so far
been
thwarted by US sanctions that still scare banks off doing business
with Iran.
Reacting to the report, the IRISL said that it had no plans for
getting its shares on the LSE.
The IRISL was removed from international sanctions blacklists last
year and after years of isolation, it aims to raise funds to
modernize its fleet.
The IRISL has a fleet of 26 ships and is pursuing an ambitious plan
to
become a leading global player in the area of maritime
transportation.
Last December, the company signed a contract with South Korea’s
Hyundai over the building of 10 ships at a total price of $626
million.
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