Turkmenchay auction?! Plundering petrochemical stocks to whom? What is behind the controversial petrochemical auction?

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 Last night, the response of the Persian Gulf Petrochemical Industries Company, as one of the most important foreign exchange companies present in the Adalat portfolio, addressed to the Stock Exchange Organization about holding a fictitious and non-transparent auction for the transfer of the shares of the five petrochemical subsidiaries of this holding to an unlisted company, was published, while Mohammad Shariatmadari, by signing the allegations, practically questioned the validity of his expert view and expression for the people of the capital market He is a slave.

Shariatmadari has stated that in order to provide liquidity, he has sold assets to the 100-day Persian Gulf Perpetual Value Company because it is not in the power of the capital market to provide this money.

Shariatmadari's claim that the road is considered in the said auction is meaningless and wrong, because the price of the share to be transferred is considered on the stock exchange board on March 2 and he receives 30 percent of it in cash, so the claim of taking the road to 30 percent is meaningless.

 On the other hand, the 70 percent that has calculated the road and added a 25 percent rate in its installments is actually to justify a rate higher than 23 percent of the bank interest in the transaction, and there is no justification for calculating the road in a part of the transaction instead of the whole transaction.

According to Shariatmadari, it is not possible to provide liquidity for this transaction in the capital market, while he must answer that the combination of 5 shares in one transaction has not reduced the financial ability of the buyer.

 When there is a need for 24.5 Hamat of the claimed liquidity, then how can he agree to receive only 7.5 Hamat of its cash and the rest in installments?

And if it had been offered on the stock exchange on more days, with smaller blocks and different buyers, and based on free and transparent competitive conditions, wouldn't the liquidity of buyers have improved and made the offerings successful? Wasn't it possible to cash and installments in the stock exchange?

 If these conditions are not met, then how did the Persian Gulf Petrochemical Holding agree to extend this auction for two days at the last moment of submitting the envelopes?

 Secondly, according to the letter of the Banks' Employees Fund to the Persian Gulf Petrochemical Holding and the desire to provide the required liquidity of this holding with a smaller volume of shares of these companies, why was there a need to advertise 25 hamat shares of the company, which now claims that the market has not had the elasticity of this figure?

 Shariatmadari's claim is faced with many contradictions, such as if the need for liquidity is the reason for this auction in the Persian Gulf Petrochemical Holding, in a panic situation and in the last days of the year, why is the remaining 70% of the required funds after the sale of the assets transferred to the next year, then to the next year, and again to the next six months?

 Is it wise to deprive and deceive thousands of shareholders of the Persian Gulf Petrochemical Holding, including the owners of Adalat shares, in a situation where it is possible to receive cash dividends in the annual assemblies of these five valuable petrochemical complexes, with such an auction that revives the memory of the disgraceful Treaty of Turkmenchay in the contemporary history of the country?

 Such allegations in the reply of the Persian Gulf Petrochemical Holding to the Stock Exchange Organization show that it is merely a cover up for the negligence of the board of directors of the Persian Gulf Holding in not respecting the company's economy and shareholders' equity.

The Stock Exchange Organization should carefully examine and demand the submission of a copy of any possible agreement or memorandum of understanding during the time of the previous and current managers of this holding with the potential buyer of these assets in the form of a non-listed company, and stop the auction until the hidden angles of such a dangerous transaction are identified in the remaining days until the end of this year, because its economic and even political consequences in the not too distant days will be the lap of the board of directors of the Stock Exchange Organization and the Ministry of Economy. The government will also take the doctors.

With such events, when the violation of the rights of the shareholders and the confiscation of the interests of the shareholders, including the 50 million Iranians who hold the shares of Adalat, in exchange for the interests of a certain group for lifetime employment and the plundering of people's property, not only is it not in the interest of the capital market, which is deeply offended by political behaviors, but it will also destroy the credibility of the regulatory institutions such as the Stock Exchange Organization and the structure and transparency of this market.