BAKU, Azerbaijan, February 12. The capital of Mobile Communications Company of Iran (MCI) rose by 18.6 percent after an extraordinary meeting of the shareholders in Tehran on February 12, 2024, Trend reports.
The meeting agreed to raise the capital of MCI from 75.2 trillion rials (about $1.79 billion) to 89.2 trillion rials (about $2.12 billion).
However, a proposal to increase the company’s capital by 40 trillion rials (about $952 million) was rejected at the meeting.
Abbas Nurbakhsh, MCI’s deputy executive director, said that increasing the capital is a positive move for the future benefits of the shareholders. He added that the new funds will be invested in development projects that will generate more revenue for the company.
Iran Mobile Communication Company was founded in 1994. Currently, it is considered the number one mobile operator company in the country.
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