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Padideh Shandiz

Padideh Shandiz International Tourism Development Company
FormerlyKavoshgaran Saham Investment Company
Company typePrivate Joint-stock
IndustryRestaurants, Tourism and Construction
Founded6 February 2005 (10 years ago)
FounderMohsen Pahlavan[1]
Headquarters
Mashhad
,
Iran
Area served
Mashhad, Tehran, Kish Island, Shandiz
Total assets200,000,000,000,000 Rials[1] ($6.3b USD)
Number of employees
30,000 (2015)[1]
Websitehttp://www.padide.com

[2]Padideh Shandiz International Tourism Development Company (known as Padideh Shandiz، پدیده شاندیز) 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 allegedly manipulating the shares.[3]

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.[4]

Padideh Khorasan Football Club

In July 2013 Padideh Shandiz company bought Azadegan League club Mes Sarcheshmeh and renamed it as Padideh Khorasan Football Club.[citation needed]

References

  1. ^ a b c d e Bozorgmehr, Najmeh (January 26, 2015). "High-profile fraud case rocks Iran". Financial Times. Retrieved March 7, 2015.
  2. ^ Varis, Autors (2020). "Fòrum de Recerca, 25". doi:10.6035/forumrecerca.2020.25. hdl:10234/187991. {{cite journal}}: Cite journal requires |journal= (help)
  3. ^ Kamdar, Nazanin (January 6, 2015). "پدیده شاندیز؛ کلاهبرداری به اندازه یک هشتم بودجه کشور". Rooz Online. Archived from the original on April 23, 2019. Retrieved March 7, 2015.
  4. ^ Omidvar, Venus (January 1, 2015). "پدیده شاندیز، تصويري از يك اقتصاد فاسد". Iran Wire. Retrieved March 7, 2015.
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