Padideh Shandiz International Tourism Development Company (known as Padideh Shandiz، پدیده شاندیز) is an Iranian private
joint-stock holding company
A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...
active in restaurants, tourism and construction.
Controversy
The company behaves like a
public company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...
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
Mashhad ( ; ), historically also known as Mashad, Meshhed, or Meshed in English, is the List of Iranian cities by population, second-most-populous city in Iran, located in the relatively remote north-east of the country about from Tehran. ...
accused the company of a "
fraud
In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrato ...
" 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 allegedly manipulating the shares.
Advertisements
Padideh uses massive
Advertisement
Advertising is the practice and techniques employed to bring attention to a Product (business), product or Service (economics), service. Advertising aims to present a product or service in terms of utility, advantages, and qualities of int ...
on its projects, and is reported to have a ⅓ share in
Iranian airports advertisements, as well as paying 5.1% of
IRIB
The Islamic Republic of Iran Broadcasting (IRIB; ) or Seda va Sima () for short, formerly called National Iranian Radio and Television until the Iranian revolution of 1979, is an Iranian state-controlled media corporation that holds a monopo ...
income from advertisements.
Padideh Khorasan Football Club
In July 2013 Padideh Shandiz company bought
Azadegan League
The Azadegan League (, ''Lig-e Âzâdegân''), also known as League 1 (, ''Lig-e Yek''), is the second highest division of professional football in Iran. It was the top-level football league in Iran from its foundation in 1991 until 2001, when t ...
club Mes Sarcheshmeh and renamed it as ''
Padideh Khorasan Football Club''.
References
{{Portal bar, Iran, Companies
Holding companies of Iran
Holding companies established in 2005
Iranian companies established in 2005