Type Private Joint-stock Founder Mohsen Pahlavan | Founded 2005 | |
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Formerly called Kavoshgaran Saham Investment Company Total assets 200,000,000,000,000 Rials($6.3b USD) CEO Mohsen Pahlevan Moghadam (11 Dec 2010–) | ||
Padideh Shandiz International Tourism Development Company (known as Padideh Shandiz) is an Iranian private joint-stock holding company active in restaurants, tourism and construction.
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Controversy
The company behaves like a public company by selling stocks despite being a joint-stock. Its share price jumped from 2,000 to 100,000 Rials from 2009 to 2014. In January 2015, a prosecutor in Mashhad accused the company of a "fraud" worth $34.3 billion. Although the allegation was denied by the company's chairman, it resulted to a 20% share price value drop. The company is currently controversially under investigation by Iranian Judiciary. The company is alleggdly manipulating the shares.
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Padideh uses massive Advertisement on its projects, and is reported to have a ⅓ share in Iranian airports advertisements, as well as paying 5.1% of IRIB income from advertisements.
Padideh Khorasan Football Club
In July 2013 Padideh Shandiz company bought Azadegan League club Mes Sarcheshmeh and renamed it as Padideh Khorasan Football Club. After one season the club was promoted to the Persian Gulf Pro League in 2014.