“TosanTechno” company announced by publishing a notice in Codal that it has sold 6% of the shares of “Ertebat-e-Farda e-commerce” company. This deal was done on December 14 at a price of $3/5M.
According to Ideaagency, Tosan Technology Development Company with the brand name TosanTechno disclosed the details of the transfer of Ertebat-e-Farda shares in Codal. As stated in this announcement, 6% of Ertebat-e-Farda shares were transferred for $3/5M. Therefore, the valuation of Ertebat-e-Farda for this transaction is more than $57M.
TosanTechno explained why the company’s shares were sold:
“It is brought to the attention of the respected shareholders that the Board of Directors of Fanafzar Company, after numerous reviews and considering the cost-effectiveness and convenience of the shareholders, decided to sell 6% of the shares of Ertebat-e-Farda e-commerce Company (special shares) and cut off the affiliation with the said company.”
The date of the transfer of the Ertebat-e-Farda shares was 14 December, and TosanTechno made a profit of $3M from this transaction. This profit is equivalent to 6.4% of the operating income of this company until November 2024.
TosanTechno has stated the following about the key reasons for selling shares of this company:
– Dissatisfaction with the profit sharing process
– Optimal use of low-yielding assets
– Not having a management seat and the possibility of being present in decisions
– Lack of positive impact of this investment on the company’s business
Transfer of shares of Ertebat-e-Farda to Ayandeh Bank
The buyer of Ertebat-e-Farda shares is Omid Citizens Ayandehsaz Cooperative, one of the subsidiaries of Ayandeh Bank. 93% of Ertebat-e-Farda’s shares are also owned by this bank.
Ertebat-e-Farda April has been accepted in the capital market this year and is in line for token insertion and initial public offering. This company is a shareholder of well-known startups such as Lendo and Otaghak.
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