PHT to offer extra 9m shares in next Q1

VNStockNews.com - Southern bourse-listed Phuc Tien Trade and Production Joint Stock Co (coded PHT) has recently announced the board of directors' resolution whereby the company will issue more nine million shares in next Q1 to hike chartered capital to 200 billion dong.

In particular, PHT will issue 1.1 million shares to advance 10 percent dividend in 2009.

In addition, PHT will offer 2.75 million shares to the existing shareholders at the ratio of 4:1 and the offering price at 20,000 dong per share. 5.15 million remaining shares will be issued to the strategic partners at the price of equalling to 80 percent of comparative price and not lower than 27,000 dong per share.

The company expects to earn 194 billion dong from the share issuance. Of which, PHT will invest 20 billion dong in Tien Len Steel Group Joint Stock Co, 40 billion dong in infrastructure and equipments, 30 billion dong for machines and equipments in Hung Yen province and building offer for lease. Over 104 billion dong will be for the company's working capital.