According to Mining News Pro - Board of Directors at HOSCO (Hormozgan Steel Company) made a decision in order to increase their capital for reforming the financial structure and preventing cash outflows.
This 80 percent increase is equal to $104.3 million. This increases the company’s capital from $130.4 million to $234.7 million.
According to company, board of directors at first suggested the 100% increase but the final decision was to increase the capital 80% percent from retained earnings.
http://www.miningnewspro.com/en/News/449696/Board of Directors Intent to Increase the Capital by 80 Percent