The participation of one million people in the purchase of Ardestan cement shares/ cement production capacity for 4 million houses has been established

According to the report of Fars news agency’s economy reporter, today 15% of the shares of Ardestan Cement Company were offered for the first time in the Tehran Stock Exchange under the symbol Ardestan 1. During this offer, more than one million people participated and bought its shares. Each person was awarded an average of 170 shares at a base price of one thousand Tomans.

On the sidelines of Ardestan Cement’s initial public offering ceremony, Ahmadreza Omrani Fard, CEO of this company, announced to reporters: 15% of the company’s shares, which belonged to Namavaran Tejarat Ardestan Cement Company, were offered today for the first time in the Tehran Stock Exchange. The capacity of this company is 3500 tons of clinker per day and 1.1 million tons of clinker per year, which eventually becomes 1 million and 180 thousand tons of cement.

Regarding the export of this company, he said: We also export; About 30% of our clinker product is exported. This company was founded in 1983 and reached the production stage in February 1986. Currently, the major shareholders are the National Pension Fund, the well-known Ardestan Trading Company, which owned 25% of the shares, and today 15% of it was offered, and 10% of it will be offered to buyers through the supply queue.

The CEO of Ardestan Cement stated: The foreign currency from exports is supplied through the NIMA system, and since last year when they separated the foreign currency from the exports of petrochemicals and steel, the situation has improved for exporters, and we have fulfilled all our obligations in terms of supplying foreign currency. We have presented and performed since 1996, 1997 and after that in the Nima system.

He added: “Currently, we do not have a plan for the development of the company, but there are problems in the field of water, electricity, and gas that we are investing in so that we can save water consumption by installing equipment.” In this context, we have installed a water electrolysis system in the back house, which used to consume 3 to 4 liters of water per second, but with this system, significant savings are made.

The CEO of this stock exchange company said whether the resources collected from the initial offering will be used for development: these resources belong to the shareholders whose shares have been offered and are not available to the company. Previously, 200 private shareholders had these shares, to whom the collected resources will go.

He also said about Iran’s rank in cement production: In the past years, Iran’s rank reached 3-4 in global cement production, now it has dropped to 6-7 and if the government does not invest in the cement industry, We will face problems in the future.

Omrani Fard stated: If we want to create a company like Ardestan Cement, we need 2.5 to 3 thousand billion Tomans of capital, and the government should support investment in the cement industry as it did in 1982 and 1983. . A company that needs this capital will have sales of 700 to 800 billion tomans per year. Therefore, private investors are not welcome and the government should support.

In response to the question of whether the domestic cement production will be enough to build 4 million houses, the CEO of Ardestan Cement said: We do not have a problem in this field at the moment, the installed capacity of cement in our country has reached 90 million tons, which last year was 60 million tons for domestic consumption. and we exported 12 to 14 million tons of cement; Therefore, there is still empty capacity in the cement industry, which we can use to build 4 million residential units.

In this event, Asghar Sharifi, CEO of Namavaran Tejarat Ardestan Cement Company, as the representative of the major shareholders, said: Today, 15% of the company’s shares were offered, and more than one million people participated, reaching 170 shares per person, and 10% will remain in the future. Shares will be offered through the sales queue.

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