Extra 6m TCM shares issued

VNStockNews.com - HOSE listed firm Thanh Cong Apparel Investment Trading Joint Stock Co (TCM) on November 9 reported that extra six million TCM shares were issued successfully to the foreign partner E-Land Asia Holdings under Korea's E-Land Group.

After the offering, the firm's chartered capital was raised from over 374 billion dong to 434 billion dong. From being equitised in July 2006, TCM has increased its capital for three times from 160 billion dong to the present 434 billion dong.

Now E-Land holds total over 16 million shares or nearly 40 percent in TCM. The move is regarded as the long term investment commitment of E-land Group into TCM.

During the last two years, Thanh Cong JSC put two fibre plants into operation, bringing its fibre production capacity from 6,000 tonnes to 20,000 tonnes a year.