Important news for Fars shareholders

According to Tejarat News, the Persian Gulf Petrochemical Company, which is active in the stock market with the symbol “Fars”, announced the proposal of the board of directors to the extraordinary general assembly to increase the capital.

According to the announcement published in Kadal, Fars, which is one of the largest stock exchange companies with a capital of 28.7 thousand billion Tomans, intends to increase its capital to 50 thousand billion Tomans from the accumulated profit.

This 74% capital increase will be done in order to compensate the investment expenses related to the acquisition of new investments and to compensate the participation costs in increasing the capital of investable companies. Also, a part of the expenses incurred for the repayment of debts from the accumulated profit included the justification of the need for capital increase, which was approved by the Board of Directors on January 6, 2014.

During today’s trading in the stock market, Fars is trading at the price of 1075 Tomans without any change compared to the previous trading day. The return of this symbol in the past month has been more than five percent.

Read the most important stock market news on the Trade News page.