Reopening of Esteghlal Club symbol / 634% increase in profits for the Blues

According to Tejarat News, the closed day and following the closing of the trading symbol of Esteghlal, the director of OTC market operations issued a statement explaining the reason for the suspension of these trading symbols. The trading symbol “Esteghlal” was stopped due to the disclosure of information relevant to Group (B) instances for Esteghlal Iran Cultural and Sports Company.

According to the regulations and laws related to publishers, the symbol of independence will be reopened after two working days by announcing the management of Iran’s OTC market operations through a discontinuous auction with a limited range of price fluctuations. This means that independence can be traded in the market today.

Independence was profitable!

Esteghlal Club set a profit of 9 Tomans per share in the 9-month financial statement ending in April this year. This is while last year the company had realized a profit of 05 Rials per share.

Esteghlal’s net profit was 9.9 billion tomans, while the company has identified 3.9 losses in the same period last year.

Accordingly, the gross profit of this club has reached 21 billion tomans, which has increased by 634% compared to last year.

The company’s capital has also increased by 50% to 1,079.1 billion tomans.

What happens to the magenta underwriting money?

Hossein Ghorbanzadeh, head of the Privatization Organization, said: “It is a percentage of the resources for settling the debts that the two clubs reported in detail, which of these debts are overdue and which of them will increase the debt if it is not paid in the future. The commitment of the two clubs.

He continues: “According to the full report, details such as debts related to the player, transferees in person, tax debts and social security of the two clubs were presented in the previous meetings.” Accordingly, a percentage of resources are devoted to this issue. A percentage of these resources will be allocated to the marketing of their shares on the OTC market, and the bulk of these resources will be allocated to investment. (Exercise three)

Despite these statements, it seems that a large part of the liquidity from the underwriting of Esteghlal and Persepolis is spent on debt settlement. In the end, there is not much money left to develop and grow the profitability of these clubs.