Mazaheri at the IPO press conference of Tosun Technology Development Company: Tosun Techno is the leader of Iran’s Android market
The CEO of Tusan Technology Development Company said: Nanyu project, the largest smart payment terminal project in the country, was implemented last year by Tusan Techno in all bakeries in the country.
According to the report of the stock market correspondent of the analytical news site Bursa Times, The introduction ceremony and the first news conference of the initial public offering of Tosun Technology Development Company, this morning, Saturday, July 31, 1402, with the presence of Mohammad Mazaheri, the CEO of Tosun Technology Development Company, Waliullah Fatemi, the founder and major shareholder of Tosun Technology Development Company, Asghar Akbarzadeh, the financial support assistant of Tosun Technology Development Company., Ahmed Poyanfar, the CEO of Aria Valuer Investment Consulting Company and a group of media people, held a meeting in the meeting hall of Farafors Iran Company.
Mohammad Mazaheri, CEO of Tusan Technology Development Company
Mohammad Mazaheri, the CEO of Tusan Technology Development Company, introduced the company at the beginning of this press conference and said: FanAfza is a subsidiary of TechWest Company, which is the largest company in terms of financial turnover in this group.
Pointing out that the brand name of this company is Tosun Techno and its symbol for entering the technology capital market, he said: This group was established in 2009; But its activity and business field had started a decade ago; In addition, technology is a set of production-based knowledge.
The CEO of Tosun Technology Development Company, stating that more than 30 banks and payment companies are Tosun Techno’s customers, said: Tosun Techno has always been profitable since 2012 and its latest capital increase was 150 billion Tomans.
Mazaheri announced the company’s plan to increase capital by 500 billion tomans and explained: We produced 6 new products this year; Currently, three products have been launched in the market and three more products will enter the market by December this year.
He further said: The composition of Tosun’s major shareholders includes; 70% belongs to Tech Vesta Technology Investment, 10% belongs to Fardai Iranian Technology Developers, 10% belongs to Pi Kiana and 10% belongs to Mohammad Mazaheri.
The CEO of Tosun Technology Development Company, pointing out that Tosun Techno is a unique company due to its activity mix and is active with a modern structure and has 5 businesses, explained these businesses.
Regarding the five businesses of Fanfarz, Mazaheri said: The basic business of this company is in the payments sector and it is the largest manufacturer of card readers in the country.
He stated that the second business is Business Point, which includes the provision of after-sales services, and added: The third business is technological, which has been invested in for about three years and is in the field of artificial intelligence.
The CEO of Tosun Technology Development Company, pointing out that the fourth business is active under the brand name Shop, which includes digital business and digital store funds, added: The fifth business of this collection is Money Tech, which is a neobank of guilds. The beginning of this sector was with ATM services that serve 20 million Iranians, and the 9-month income of this sector was 300 billion tomans. MoneyTech services are provided in places where banks cannot be present.
Mazaheri, pointing out that this collection has provided 4 million card readers to the country’s market, said: the trend of card readers in the world is changing and card readers are entering the world market that do not only do payment work. Supplying these card readers in Iran was expensive and we are trying to reduce their price by transferring knowledge and technology so that it is close to the price of traditional card readers.
Emphasizing that Tosun Techno is the leader of the Android market in Iran, he said: nearly 300,000 Android card readers have been presented to the market, and this year at least 50% of our products in the field of payment will be in the Android system.
The CEO of Tosun Technology Development Company announced that the Nanio project, the largest smart payment terminal project in the country, was implemented last year by this complex in all bakeries in the country, adding: some of the key indicators of the payment field of this complex include 30% market share and 400,000 production capacity of electronic payment terminals.
Mazaheri further said: 800 billion tomans of cash is provided to the people every month in the business of MoneyTech, which is a digital banking platform.
At the end of his speech, the CEO of Tosun Technology Development Company, pointing out that in the MoneyTech sector, this collection is present in 10,000 locations in the country and 20 million Iranians use its services, said: large public and private banks and most payment companies are in the list of customers of this collection.
Asghar Akbarzadeh, Vice President of Financial Support of Tosun Technology Development Company
Asghar Akbarzadeh, Vice President of Financial Support of Tosun Technology Development Company, In the continuation of this press conference, he said about the financial statements of this group: the financial year of this company is December 30; This company has always grown its operating income in the last 5 years and the sales forecast for the fiscal year 1402 is 1,774 billion 900 million Tomans.
He continued: The profit and loss statement of the company also shows that the company has realized a net profit of 220 billion tomans in the fiscal year 1401. 194 Tomans and 2 Rials are also expected for the current financial year.
The Vice President of Financial Support of Tosun Technology Development Company, pointing out that in the forecast of the current fiscal year, the share of shareholders’ equity will reach 55% of the total balance sheet, stated: This shows that Fanfazar is a company with low financial risk and shareholders’ equity supports an important part of the risks of the company’s financial statements.
Ahmed Poyanfar, CEO of Aria Valuer Investment Consulting Company
Ahmed Poyanfar, the CEO of Aria Valuer Investment Consulting Company, in the continuation of this press conference, as the valuer of Tosun Technology, explained about the indicators evaluated in the valuation of this collection and said: the fair value of the retail shares of this collection was estimated at 1736 billion tomans in July 1402.
He continued: To estimate the value of the technology, the relative method of p/e and p/s and two income methods, ddm and fcff, have been used. The relative coefficients are also extracted from the average of selected companies in the computer industry of Iran’s stock exchanges.
The CEO of Aria Valuer Investment Consulting Company, pointing out that the estimates made in the relative approaches were based on the performance of one year ending on December 30, 1401, continued: The estimated value was estimated without applying the liquidity deduction and with the application of the 25% control deduction only for the free cash flow method.
Regarding the valuation of Tusan technology, Poyanfar said: From the point of view of the valuation of the growth of income and cost price, it is important that the cost price has increased by 33%, the sales rate by 31%, and the operating profit by 24%, which shows that the sales rate and profit have grown in proportion to the cost price.
He continued: This trend shows that the company has the ability to manage business in its industry.
The CEO of Aria Valuer Investment Consulting Company, referring to the summation of estimates of different technology valuation methods, said: Finally, according to the summation of valuations, the simple average of the estimated value was 2542 and the average estimated value was equal to 1736 billion tomans. In this way, the value of each sheet of the company’s stock in the technology introduction meeting is estimated at 1157 Tomans.
Valiullah Fatemi, founder and major shareholder of Tosun Technology Development Company
Valiullah Fatemi, the founder and major shareholder of Tosun Technology Development Company, said at the end of this press conference: This group, which is listed under the symbol Fanfaza, is one of the most distinctive companies of the group, which has very diverse businesses. This release, like the previous releases, will definitely be accompanied by the support of this collection.
At the end of this press conference, the founder of Tosun Fanfarz Development Company said: Based on the plans, we had previously announced that we will list one of the subsidiary companies every two years, and today is Fanfarz’s turn.
It should be noted that in this press conference, it was announced about the 500 billion tomans capital increase program of Tosun Technology Development Company.
Correspondent: Samad Yousefi
Photo album of the press conference