Equities

Reuters reveals Iran's biggest cargo line looks at London IPO; thwarted so far

Reuters reveals Iran's biggest cargo line looks at London IPO; thwarted so far

Reuters exclusively revealed that Iran’s top cargo shipping company has held meetings in London to discuss a possible listing on the London Stock Exchange, but has so far been thwarted by U.S. sanctions that still scare banks off Iranian business. Islamic Republic of Iran Shipping Lines was removed from international sanctions blacklists last year and after years of isolation aims to raise funds to modernize its fleet. It has already placed an order for new ships estimated to be worth $626 million.