SSC rejects CII's share issuance plan

Monday, Nov 21, 2022 10:48

CII's headquarters in District 1, HCM City. — Photo

Ho Chi Minh City Infrastructure Investment JSC, with a ticker symbol on the Ho Chi Minh Stock Exchange (HoSE) of CII, will have to submit the share bonus plan again at the next General Meeting of Shareholders, according to a document issued by the State Securities Commission (SSC).

The document said that as the company still needs to update its current charter capital, which is the capital after issuing shares to convert bonds, it has not been approved to issue bonus shares.

Previously, CII issued 707,598 shares to convert into 18,116 convertible bonds for the third phase on May 4.

On August 19, it announced the common stock dividend at a rate of 14 per cent, meaning shareholders owning 100 shares will receive 14 new shares, and the payment of the 2022 cash dividend at a rate of 12 per cent, meaning shareholders owning one share will receive VND1,200 (US$0.048).

For bonus shares, the company has previously submitted a dossier to the SSC. It will carry out the plan after it gets the committee's approval, expected at the end of August. But with the new announcement from SSC, the share bonus will not have a specific implementation date.

Regarding the business results, in the third quarter of 2022, CII recorded a revenue of over VND2.18 trillion, up 744 per cent year-on-year, with a gain of 385.3 per cent in profit after tax to VND51.68 billion. However, its gross profit margin plummeted from 26.9 per cent to a multi-year low of 15.1 per cent during the period.

For the first nine months of the year, the company recorded a rise of 75 per cent in revenue to more than VND3.8 trillion, while the profit after tax surged by 577 per cent to VND852.4 billion.

In 2022, CII sets a target of over VND8 trillion in revenue and VND756.8 billion in net profit after tax for the parent company. Thus, after nine months, CII completed 96.1 per cent of the annual profit plan.

On the stock market, CII shares ended the last trading day at VND12,050 per share, up 7 per cent, the maximum daily gain on the southern market. — VNS

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