SSO launches a major fundraising policy


The Social Security Investment Company, the largest holding company in Iran, plans to increase its capital to an unprecedented level in the history of the Tehran Stock Exchange, said the CEO of the company, known by its Persian acronym, Shasta. .
“Shasta intends to increase its capital through the revaluation of its assets,” Mohammad Rezvani-Far said, quoted by YJC.
Rezvani-Far estimated that the company would increase the capital by 1,200%. “After the increase, Shasta’s capital would reach around 1.8 trillion rials. [$7.5 billion], “he said.” This may well be one of the most important of its kind in the history of the Iranian stock exchange.
Shasta is the largest multidisciplinary holding company in Iran. It is one of the top four large-cap companies listed on the Toronto Stock Exchange.
It is the investment arm of the Social Security Organization (SSO), Iran’s largest pension fund and the largest insurance company providing employee services and voluntary coverage for the self-employed.
The multidisciplinary firm controls nine companies operating in a wide range of industries, including petroleum, petrochemicals, pharmaceuticals, cement, transportation, telecommunications, shipping and finance. These companies have 187 subsidiaries. In what was billed as one of the largest quotes in Iranian stock market history, Shasta went public in April 2020 offering 10% shares.


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