TEHRAN – Head of financial department of Mobarakeh Steel Company says the capital of the company has grown by 73 percent. IRAN NEWS ECONOMIC DESK Mr. Tahmoures Javanbakht said that by the Securities and Exchange Organization issued licence for Mobarakeh Steel Company to increase its capital through its retained earnings. He went on to say […]
TEHRAN – Head of financial department of Mobarakeh Steel Company says the capital of the company has grown by 73 percent.
IRAN NEWS ECONOMIC DESK
Mr. Tahmoures Javanbakht said that by the Securities and Exchange Organization issued licence for Mobarakeh Steel Company to increase its capital through its retained earnings.
He went on to say that accordingly, the capital of the company was increased from 7,500 to 13,000b tomans.
He went on to say that this increase in the capital is aimed at reforming the financial structure of the company regarding its costs for completing under construction projects, cooperation in boosting the capitals of the subsidiary companies, possessing the long term investments and working capital for the future plans.
He reiterated that by registration of this increase in the capital, Mobarakeh Steel Company would turn into the biggest company which has been registered in the stock market.
Javanbakht added that the emergency general assembly meeting of the company is to hold on Wednesday.
He also pointed to the brilliant achievement of the company in the past nine months in the current year, adding that the company witnessed 46% growth comparing to the same period in the preceding year.
Mobarakeh Steel Company was ranked as one of the top ten companies of the country in the essential metals.
