Karafarin Leasing Company Listed

Referring to entering the Karafarin Leasing Company (stock symbol: Volkar) in the Tehran Stock Exchange (TSE), the Financial Deputy of Karafarin Bank, Dr. Mohammadpour stated: “We have committed ourselves to the TSE to float the shares of Karafarin Leasing Company and we have so far, floated 15% (our commitment is 25%) of the shares of this company.
Karafarin Leasing Company is a subsidiary company of Karafarin Bank and is a part of the Bank’s value chain. We believe listing our companies in the stock exchange help them become more transparent and meet their objectives in an increasingly competitive environment. Although we had been committed to floating 25% of the shares of the said company in the first stage, we floated 15% (10% was floated in the TSE and 5% in investment funds), and we shall hopefully issue the remainder in the next six months. In the past two years, this company’s profits tripled, the reason for which, was its rapid capital increase. We believe that this is a valuable company full of potentials and that it shall undoubtedly demonstrate an even stronger performance in the future.” 
Volkar Shall be Top Leasing Company in the Next 3 Years 
In a meeting for issuing Volkar, the Bank’s senior managers announced: “In less than three years Volkar shall be the top stock symbol for a leasing company in Iran.” Having pointed to the fact that 15% of the shares of Karafarin Leasing Company have been floated in the stock exchange and the remaining 10% shall be floated in the forthcoming months. In a statement, the Managing Director of this company, Mr. Kordelouyee suggested: “In my opinion, if the capital market becomes flourishing once again, then the Volkar shares are more likely to grow. This is due to us making targets for these shares.”
Listed Leasing Companies Need to Increase their Capital
“Karafarin Leasing Company has strong human resources and a bright future. Increasing capital is on our agenda, since leasing companies are required to undergo capital increase, in order to maintain their market share. And this capital increase shall occur next year. Undervalued leasing companies which have been listed in the TSE have increased their capital to maintain their market share. I now bring good news to the shareholders of Volkar that we plan to become Iran’s top leasing company in the next three years.” he added. 
Karafarin Leasing Company Profitability Plan Underway
Pointing out that Karafarin Bank Leasing Company is the 580th TSE listed company, the Managing Director of Karafarin Bank Brokerage Company, Alireza Fahimi stated: “Approximately 10% of Karafarin Leasing Company’s shares have been offered to the public and 5% has been dedicated to investment funds. In view of Karafarin Bank’s commitment to the Securities & Exchange Organisation, the remaining 10% shall be floated in the capital market in the forthcoming months. Profitability plans of this company shall be implemented in the near future. Furthermore, this company, which is the fourth listed leasing company has a comprehensive program for increasing its share in the capital market.” The Financial Deputy of Karafarin Bank stated: “I believe that the stock exchange has been stablised and initial public offerings are being made in an intelligent manner.” 
Publish Date: Jun 27, 2021