Sacomreal to boost capital by 30 per cent

Thursday, Dec 14, 2017 08:46

Sacomreal’s Jamona Golden Silk project. The company plans to increase charter capital to VND3.17 trillion (US$139 million). — Photo

Sai Gon Thuong Tin Real Estate JSC, better known as Sacomreal (SCR), plans to hike its charter capital by 30 per cent to VND3.17 trillion (US$139 million) from the current VND2.44 trillion through issuing an additional issue 73 million shares.

About 20 per cent of the shares will be offered to existing shareholders and another 10 per cent will be sold in a private placement.

The company will hold a shareholders’ meeting on December 18 to seek approval for the plan. It will also seek endorsement for Thanh Thanh Cong Investment JSC’s share purchase without a public bid.

Thanh Thanh Cong Investment currently holds 4.91 per cent of Sacomreal’s capital. The company is expected to increase its stake to over 25 per cent of total voting shares.

On October 23 this year, Sacomreal issued nearly 16 million shares to pay a 7-per-cent dividend, lifting its outstanding shares to 243.9 million shares.

The company’s share price has increased more than 6 per cent this year, being traded at about VND9,000 a share. – VNS


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