Iran’s Khazar Shipping Lines to boost capital
Azerbaijan, Baku, Apr. 14/ Trend F.Milad/
Khazar Shipping Lines will add over 43 billion rials (some $3.5 million) to its current nominal capital of 206 billion rials (some $16.8 million), Fars news agency reported.
The company was admitted to the over-the-counter (OTC) stock market last year and will raise the capital through issuing over 43 million shares, the report added.
Khazar Shipping Lines hit a new record in carrying cargo despite imposing sanctions against it by the European Union and the U.S., Mohammad Reza Qaderi, Managing Director of the Company said, the Ports and Maritime Organization's website reported.
This figure was unprecedented in the 20-year record of this company, he said.
Khazar Shipping Lines, which is an affiliated company to the Islamic Republic of Iran Shipping Lines (IRISL), was established in 1992 with the aim of transporting cargoes between Iran and other littoral states of the Caspian Sea.