Padideh Shandiz

Padideh Shandiz International Tourism Development Company
Formerly called
 Kavoshgaran Saham Investment Company
Private Joint-stock
Industry Restaurants, Tourism and Construction
Founded 6 February 2005 (10 years ago)
Founder Mohsen Pahlavan[1]
Headquarters Mashhad, Iran
Area served
 Mashhad, Tehran, Kish Island, Shandiz
Total assets

200,000,000,000,000 Rials[1]

($6.3b USD)
Number of employees
 30,000 [1]
Website http://www.padide.com

Padideh Shandiz International Tourism Development Company (known as Padideh Shandiz) is an Iranian private joint-stock holding company active in restaurants, tourism and construction.[1]

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.[1] The company is alleggdly manipulating the shares.[2]

Advertisements

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.[3]

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.

References

  1. 1 2 3 4 5 Bozorgmehr, Najmeh (January 26, 2015). "High-profile fraud case rocks Iran". Financial Times. Retrieved March 7, 2015.
  2. ↑ Kamdar, Nazanin (January 6, 2015). "پدیده شاندیز؛ کلاهبرداری به اندازه یک هشتم بودجه کشور". Rooz Online. Retrieved March 7, 2015.
  3. ↑ Omidvar, Venus (January 1, 2015). "پدیده شاندیز، تصويري از يك اقتصاد فاسد". Iran Wire. Retrieved March 7, 2015.
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