Approval of a 35% increase in Mobarakeh Steel's capital from the accumulated profit

The Vice President of Economic and Financial Affairs of Mobarakeh Steel said: After the Board of Directors of Mobarakeh Steel Company prepared a justification report for the capital increase from the accumulated profit amounting to 28 thousand billion tomans and presented it to the independent auditor and the legal inspector, the auditor also approved this increase after the investigations. issued 35% capital.

Mehdi Kuwaiti, Economic and Financial Vice President of Mobarakeh Steel said: Mobarakeh Steel Company is currently known as the largest operational holding in the country with more than 130 companies in its group and with a registered capital of 80 thousand billion Tomans. In the trading board of the capital market, the value of the company is now close to 500 thousand billion tomans, which is also in the second place of the capital market.

According to the statements of the economic and financial vice president of Mobarakeh Steel, the greatness of Mobarakeh Steel cannot be summed up only in the form of these figures; Because this company has always been a pioneer in the industrial field, especially in steel production, not only in Iran, but in the whole world, and to maintain this position, plans and strategies have been developed in the form of development plans with the aim of eliminating the country's need for imports and industrial self-sufficiency, job creation, foreign exchange. And... has compiled.

Explaining this capital increase, Kuwaiti said: In this regard, a report justifying the capital increase from the accumulated profit amounting to 28 thousand billion tomans was prepared by the respected board of directors and presented to the independent auditor and legal inspector. The auditor also issued the confirmation of this capital increase after the investigations. Currently, this report has been sent to the Tehran Stock Exchange and Securities Organization, so that after obtaining the final approval of that organization, the permission to hold an extraordinary general meeting of shareholders will be obtained and the capital increase will be implemented after the approval of the shareholders.

He pointed out: Definitely, with the implementation of this capital increase, not only the taste of Foulad shareholders will be sweetened, but its blessings will also reach the whole country and the dear people of Iran. Because we expect that with the fruition of the development plans mentioned in the justification report, capital increase, job creation, increase in production, reduction of the country's dependence on imports, and finally, the profitability of Mobarake Steel Group will increase more than in the past.

Mobarakeh Steel