IRON and STEEL   Stocks  

The greatest capital increase in the history of stock exchange / Mobarakeh Steel Co. (MSC) still excelling at stock exchange

Me-Metals – Bahman Ayyar Rezaei – an experienced member of the board of directors of Isfahan’s Mobarakeh Steel Co. (MSC) stated: Mobarakeh Steel Co. (MSC) with 130,000 Billion rials capital, multiplied distance from the second company in stock exchange.

Reported by Me-Metals, Dr. Bahman Ayyar Rezaei – a member of the board of directors of Isfahan’s Mobarakeh Steel Co.(MSC) – provided answers to the questions raised by the Me-Metal’s journalist in a telephone interview, which go as follows:

Dr. Rezaei, please explain about today’s, 27 Bahman 1397 (16 Feb. 2019), extraordinary general meeting of Mobarakeh Steel.

The aim of today’s meeting was to increase our capital from 75,000 to 130,000 Billion rials, which is a 73%-increase in capital and is in fact the greatest capital increase in the history of stock exchange that is achieved from the retained earnings. And this caused Mobarakeh Steel Co. (MSC) to be promoted to the first rank among other great stock exchange companies. This indicates the power of the company. That is to say that we now outrank Persian Gulf Petrochemical Industries Co., Tamin Petroleum & Petrochemical Investment Co. (TAPPICO), Iran National Copper Industries Co. and Ghadir Investment Co. .

Persian Gulf Petrochemical Co. with 91,500 Billion rials capital stands at the second position.

Mobarakeh Steel Co. (MSC) with 130,000 Billion rials capital multiplied distance from the second company in stock exchange.

The retained earnings were at the beginning of the year 57,740 Billion rials, per each share 770 rials. The capital before increase was 55,000 Billion rials, per each share 733 rials. The remaining retained earnings were 2,740 Billion rials, per each share 34 rials. We predict that by the end of 1397, we will have 95,000 Billion rials profit. The nine-month net profit of the fiscal year of 1397 is 70,000 Billion rials and it is expected to grow to 95,000 by the end of the year.

This increase is different from the increase caused by asset reevaluation. In asset reevaluation, for example the asset of a company is 100 Billion rials and after evaluation becomes 150 Billion rials. However, we have increased our capital from the retained earnings.

Last year the profit was about 57,000 Billion rials. Despite sanctions, international pressures on the company and other issues, Mobarakeh Steel Co. (MSC)  is still excelling at stock exchange.

What measures are you going to take for the upcoming year (1398 : Solar Calendar)?

We are going to maintain our current status. Although we are at the moment under sanctions imposed by the US, we intend to take some measures in order to maintain our current status as long as possible.

What are your plans in relation to export?

Currently we are getting counseled to find solutions to the problems of the export, according to the international rules and regulations. Besides, we are about to start bartering if we cannot conduct monetary transactions. 

How about the under-construction projects? What do you intend to do about them?

We are going to develop and carry out all the unfinished projects strongly as ever and with all the energy.

Interview by: Alireza Jafarinejad

Translation by: M. Payehghadr

News No: 3946
Date: 2019/03/10 - 14:59
News Source: ME-METALS

Bahman Ayyar Rezaei  Mobarakeh Steel Co. (MSC)  stock exchange  sanctions  capital 


Leave a Comment:


Mountain Province stock takes off on 74% diamond resource increase

Shares of Mountain Province Diamonds Inc. (TSX and NASDAQ: MPVD) surged on Thursday after releasing its latest mineral resource estimates at the Faraday 2 kimberlite, located within the Kennady North Project, NWT, Canada. The stock rebounded by more than 12% at the open in Toronto, lifting the company's market capitalization to over C$256 million.

US Oil Prices Up 50%

Venezuela is in chaos. Iran is grappling with US sanctions. And now there is a surge of violence in Libya. Trouble in these three OPEC nations has helped send US oil prices climbing back above $64 a barrel.

India Delays May Order for Iran Oil

Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.

A million tons of copper is on the way: it may not be enough

Giant mines currently under construction will churn out an additional 1 million tons of copper through 2023, but that won’t be enough to fully close an expected gap between supply and demand in the next few years.

Iran: Gas Prices in US Influencing Extension of Oil Sanctions Waivers

The growing gas prices in the US indicate that Washington is facing a hard decision on the extension of waivers on Iran oil sanctions, an Iranian official said on Sunday.

UniCredit Near $900m Deal With US Over Iran Sanctions

UniCredit SpA is nearing an agreement with US authorities over allegations that the bank provided dollar-clearing services to Iranian clients in violation of US sanctions, people with the knowledge of the matter said.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners