Securities and Exchange Organization agreed with capital increase of 30.5 percent for Jam Petrochemical Company from the place of current shareholders' claims and cash investments.
According to the Public Relations of Jam
Petrochemical Company, and quoted from the Capital Market News Agency (SENA), capital
increase of 4,200 billion rials of Jam Petrochemical Company was announced
unimpeded from the amount of 13 thousand and 800 billion Rials to the amount of
18 thousand billion Rials by Securities and Exchange Organization.
Capital increase of Jam Petrochemical Company
is due to the compensation of capital expenditures made for participation in
raising capital of Pad Jam Polymer Development Company (Private Equity).
It is worth mentioning that regarding the
share’s final price of the last day with the amount of 47,180 Rials and a capital
increase of 30.5%, the theoretical share price (price after capital increase,
without decline or growth) is 36,387 rials.
According to this report, accomplishment of
Jam capital increase is feasible up to 60 days after the date of this
permission. Not accomplishing the capital increase within the due date, shall
cause the annulment of this permission, and doing it requires obtaining a new permission
from the organization.