In a press conference this morning, it was announced that Kayson Company has invested 72 billion Tomans (approximately 1,440,000$) in Achareh Group.
According to Iran digital economy annotation, the amount of shares transferred was not disclosed, but Kayson has entered into Achareh’s shareholding by buying shares from other Achareh shareholders and diluting their shares. This investment is considered the first entry of Cason into the field of startups. Ali Sanginian, the vice president of investment of Kayson Company, announced in this press conference that this investment was made in Sanagostar Sabz Holding. Sanagostar Sabz Holding owns four startups Achareh, Achareh Bazar, Achareh Sazeh and Ubar.
Hamed Tajeddin, CEO of Achareh, said in this press conference, referring to the variety of professional services in Achareh: “The difficulty of Achareh’s work is that it has identified more than 300 types of services, which include individuals, small businesses, startups, and large organizations. “In order to move forward in the ups and downs path that we had ahead of us, we had to enter the group as partners with large economic enterprises that have financial strength and experience.”
CEO of Achareh stated that the negotiations with Kayson Group, as the largest construction company in the country, started a year ago, and added: “The amount of capital attracted from Kayson Company is 72 billion tomans (approximately 1,440,000$) of capital that has entered the company.”
Of course, he did not explain more about the composition of the shareholders, but Ali Sanginian, the vice president of Kayson Investments, said: “The fact that we entered in the form of a capital increase with a pre-emptive share means that in practice we enter together with the rest of the shareholders, and the percentage of the other shareholders will be lower. And over time the caisson will replace them.”
Tajeddin also added the explanation that Achareh’s shareholders will not be eliminated with this investment.
The CEO of Achareh also said about the reason for attracting capital: “We initially started our work with two products Achareh and Ubar. When we had problems with Obar in the bill of lading department, we focused on Achareh for a few years. Later, we came to the conclusion that the attractiveness of these two for investors is different, and for this reason, we decided to create a holding structure.
For industry groups interested in both of our businesses, it was attractive to enter into holdings and shareholdings in both collections. From one point on, we decided to move forward with the Achareh group, and Obar is also a part of this group. “Kayson Group entered the holding itself and our entire service portfolio was attractive to him.”
Tajeddin then presented statistics about the activity of this platform: “We have 2.5 million users in Achareh, which from our point of view are 2.5 million households. According to our estimate, 10% of Iranian households are Achareh customers. Despite the hardships of 2018 and the Corona pandemic, Achareh has experienced a 10-fold growth in the last three years.”
Achareh CEO said in this meeting that more than 120,000 specialists are working in Achareh and the number of Achareh orders has reached 5,000 requests per day. According to him, the number of Achareh users has reached 3 million people, and this business has occupied more than half of the online market of the service industry.
At the end of his speech, the CEO of Achareh announced that “Achareh Group” has started its negotiations to enter the stock market and soon this group will enter the stock market.
In this meeting, Ali Sanginian, the vice president of Caisson Investments, introduced the company, saying: “Kayson is the largest contracting and construction engineering company in Iran. Cason may be known more for house building, but this is only 10% of our activity. However, during these years, Cason has built more than 50,000 residential units inside and outside the country. Currently, our main activity is in the field of water and sewage industry, rail transport and energy. These activities are mainly in the field of engineering and construction and are done as contractors.
He then explained about the initial idea of investing in Achareh: “The general atmosphere of the country, the chaotic economic situation and the bad business conditions caused Caisson to make a turn in its economic model, and based on this, we are working on a three-to-five-year plan that will contribute Make construction engineering smaller in the income mix and add other economic works. With this process, both the income mix becomes more diversified, the income increases and the activities are managed.”
Sanginian continued: “In this regard, one of the businesses we entered into is knowledge-based fields and startups that have a large capacity for growth and profitability. Last year, when we started negotiations with Achareh Group, we had other proposals, but in the initial review, it seemed that Achareh has a great opportunity to make profits and create value.
At the same time, we also noticed that we entered the business at a stage that has passed the initial startup risks and reached stability and has actually entered the income generation period. These issues were important to us and we finally reached an agreement with this collection.”
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