Record-breaking public participation in the initial offering of “Shahr” / will the accumulated losses of Shahr Bank be compensated?

According to Tejarat News, today 12% of the shares of Shahr Financial Group, equivalent to three billion and 960 million shares, were initially offered as the 604th company admitted to the Tehran Stock Exchange. After Pasargad Electronic Payment Company, Fajr Isfahan Agriculture and Animal Husbandry, Alis Chenaran’s Bahar Rose, and Hekmat Iranian’s Diamond Investment, “Shahr” symbol is the fifth initial public offering of this year.

The participation of more than two million and 228 thousand and 479 trading codes in the process of the initial offering of Shahr Financial Group with the symbol “Shahr” led to the allocation of a maximum of one thousand and 863 shares to each trading code from the capacity of eight thousand shares for each code at the time of order registration. find Also, the mentioned symbol was discovered at the price of 1840 Rials.

Shahr Financial Group started working on November 30, 2011 with an initial capital of 100 billion Tomans and under the name of Rasta Economic Development Group. Also, on September 29, 1999, the name of this company was changed to “Shahr Financial Group”. According to the approval of the company’s annual meeting in 1400, the last registered capital of the company is 33 thousand billion Rials.

The subsidiaries of Shahr Financial Group are: Shahr Atieh Investment Company, Tamandan Capital Supply Company, Shahr Leasing Company, Shahr Brokerage Company, Shahr Insurance Service Company, Shahr Validation Development Company, Shahr Ayin Tourism Development Company and Kish Water and Electricity Company.

Also, the change in the value of Shahr Financial Group’s stock market portfolio has reached 24,527 billion Rials at the end of 2011, with an average annual growth of 159%, from 1,511 billion Rials at the end of 1995.

City stock market portfolio

The stock market portfolio of Shahr Financial Group by industry at the end of 1401 is as follows: 22% chemical group, 21% basic metals, 13% petroleum products, 11% banks and credit institutions, 7% automobile and parts, 7% pharmaceutical group, 4% food companies except sugar, 3% cement, lime and plaster and 5% other industries. Shahr Financial Group announced during the initial launch ceremony today in the Glass Hall that it has considered seven main axes as its vision until the horizon of 1404:

1. Investing in knowledge-based companies, including startups and fintechs
2. The supply of the group’s subsidiaries in the capital market
3. Leaving activities unrelated to the financial service chain
4. Providing portfolio management services, financial information processing and investment advice
5. Establishment of a company that provides online trading services
6. Adopting a strategic control approach based on hacking and synergy in the management of subsidiaries
7. Asset management and optimal use of stagnant and surplus assets in group companies

Improving the condition of Bank Shahr

Yazdan Saif, the vice president of investment of Shahr Financial Group, in response to the question of Tejarat News that what is the plan of Shahr Financial Group to exit Shahr Bank from the accumulated losses and improve the imbalance situation of this bank, said: “Currently, we are the money supplier in the interbank market. Are. Because we were able to market well and attract good resources. All managers are trying to fulfill the promise made in last year’s assembly and to improve the situation of Shahr Bank. “Because the bank was in a dire situation in the past years and all efforts were made, and today we are not in debt in the money market and we are among the suppliers.”

In response to Tejarat News regarding the sale of the company’s surplus properties, the vice president of investment of Shahr Financial Group said: “We have nearly 30 thousand billion tomans worth of properties, which we are planning to sell or develop, which will be planned depending on the type and capacity of the property. became.”