EghtesadOnline: Iran Mercantile Exchange’s shareholders have decided to increase their capital to 1.2 trillion rials ($29.52 million).
The commodity exchange has finished holding its annual general meeting with about half of its shareholders attending to present the board of directors’ financial report on the previous fiscal year (March 2017-18). After the annual general meeting, an extraordinary meeting was held to decide on the capital increase, the Persian economic daily Donya-e-Eqtesad reported. Investors agreed to increase IME’s capital by 38% through its retained earnings and contingency reserves from the current 900 billion rials ($21.42 million). IME is a commodities exchange located in Tehran, Iran. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets, Financial Tribune reported.