Kinh Bac City Development Holding Corp (KBC) on Tuesday reported it had
sold 100 million shares for VND1 trillion (US$47.4 million). They were
put for sale to increase its charter capital to cover debts
(debt-to-equity swap).
The Kinh Bac City Development Company (KBC) has recently announced its
audited financial statement for the first six months of this year,
revealing losses of VND70.75 billion (US$3.3 million), a surge of VND9
billion ($424,500) compared to the initial report.
More than a million Kinh Bac City Development Corp (KBC) shares were
exchanged every day for over a week, bringing investors hope of a
positive business result in the first quarter.