STK plans to issue 10.8m shares

Thursday, Apr 05, 2018 08:50

STK targets a revenue of over VND2.3 trillion this year, a year-on-year increase of 18 per cent. — Photo

Soi The Ky Joint Stock Company (STK) targets a revenue of over VND2.3 trillion (US$101 million), pre-tax profit of VND131 billion and after-tax profit of nearly VND126 billion in 2018.

This marks a year-on-year increase of 18 per cent, 25 per cent and 26 per cent, respectively.

The company will submit these targets in the business plan for 2018 at the annual shareholders’ meeting, expected to take place on April 17.

In addition to this, STK will ask for shareholders’ comments on the issuance of nearly 10.8 million shares.

Of this, STK plans to issue nearly 4.2 million shares to pay dividends for fiscal year 2017 at a rate of seven per cent and another 600,000 shares under the employee stock ownership plan at VND10,000 (44 US cents) per share. The company also plans to issue nearly six million shares to existing shareholders at the rate of 10 per cent, with the selling price not lower than the par value and not higher than the price at the end of the previous session a day before the notice of closing rights on HCM Stock Exchange.

A total of nearly VND60 billion is expected after the issuance is used to invest in the Trang Bang 5 project. If the issuances of shares succeed, the charter capital of the company will increase to more than VND707 billion.

In 2017, STK achieved a revenue of nearly VND2 trillion and an after-tax profit of more than VND99.6 billion. The company expects to pay 15 per cent dividend for 2017, with a total of more than VND89.9 billion. Of this, eight per cent will be in cash, equivalent to over 47.95 billion, and seven per cent will be in shares, equivalent to more than 41.9 billion.— VNS

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