85139
Kerman Motor’s production lines (File Photo)
Kerman Motor’s production lines (File Photo)
Tuesday, April 24, 2018

Automotive Race Gets Tight in Iran

The largest Iranian private automotive firm, Kerman Khodro, is set to offer shares and bonds in the stock market; a move that industry observers speculate could reshape the country’s automotive arena
Tuesday, April 24, 2018

Automotive Race Gets Tight in Iran

Iran’s largest private automaker Kerman Khodro is hoping to raise capital by a public stock offering, an initiative that can shake things up and alter the status quo of Iran’s auto market.
According to Mizan Online, the corporation is not setting any restrictions for the purchase of stocks by the public or other companies, meaning the stock sales can lead to other auto manufacturers of the country claiming a share of the firm. Hamed Shadkam, deputy for the automotive group’s subsidiary Kerman Motor outlined the plan.
The move can reshuffle the status of automakers as SAIPA is racing toward the title of the largest auto manufacturer in the country and Iran Khodro is sparing no effort to sustain the prevailing state. Both firms are expected to be among eager bidders for Kerman Khodro shares.
Kerman Automotive Industries Group first engaged in the globally accepted practice the previous year, issuing one trillion rials ($23.8 million) of Murabaha bonds to finance its projects.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/4WXytU
04/24/2018
  1. https://goo.gl/Yjkb5f
  • https://goo.gl/jgSU4p
  • https://goo.gl/mPZxTG
  • https://goo.gl/v1rCu7
  • https://goo.gl/rhtAsn

You can also read ...

BMW, Mercedes Boxed in  by Tariff Battles
US President Donald Trump’s escalating trade spat threatens to...
China Auto Firms to Set Up Ride-Sharing Platform
Chinese firms FAW Group, Dongfeng Automobile and Chongqing...
Rouhani Orders Clampdown on Unlawful Vehicle Imports
President Hassan Rouhani has issued a two-week ultimatum to a...
How to Retrieve Lost Items  on Hailed Rides
The emergence of ride-hailing services has presented citizens...

Add new comment

Trending

Googleplus