CSDI Shareholders Thumb Up Capital Increase
Central Securities Depository of Iran's extraordinary general meeting wins nod for a proposed capital increase.
Central Securities Depository of Iran convened an extraordinary general meeting on Saturday to deliberate and seek approval for a proposed capital increase.
The shareholders greenlighted a 30% capital raise during the extraordinary general meeting on 5 August 2023.
The EGM authorized the board of directors to make the necessary amendments to the Articles of Association accordingly.
The increase aligns with the company’s future growth plans, serving to reinforce its capital base.
With an impressive turnout of over 96 percent of shareholders, the EGM also elected the new board of directors with the membership of Iran Mercantile Exchange (Independent); Tejarat Bank (Independent); Sepah Bank (Alternate) and Saham Barez Brokerage Co (Alternate).
Additionally, the CSDI Board of Directors includes legal members such as the Securities and Exchange Organization, Tehran Securities Exchange Technology Management Co. and SEO Information Dissemination and Services Co..
CSDI is on a strong growth trajectory and requires additional capital for increased profitability, expansion (domestic and international) and enhancement of its digital capabilities.
Release Date: 8/5/2023