A three-year parliamentary investigation has alleged widespread corruption at Iran's largest steel exporter and leading revenue earner, pinning the graft on the previous presidential administration and leading the Mobarakeh Steel Company to be suspended from trading on the country's stock market.
TEHRAN, Aug 22 Tehran’s stock exchange has suspended Iran’s largest steel-maker from trading following a parliamentary report alleging corruption to the tune of US$3.
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The stock exchange in Iranian capital Tehran has suspended country's largest steel-maker from trading. The move followed a parliamentary report that made allegations to the tune of USD 3 billion, as per the local media.
Trading of the Mobarakeh Steel Company's stocks has been suspended "due to uncertainties about the transparency of information", said the Tehran bourse's chief executive Mahmoud Goudarzi, quoted by the Fars news agency.
According to the news report, the trading in the company will not resume "until the necessary information is clearly obtained".