Long Giang Land to issue 6 million shares in Q1/2010

VNStockNews.com - Long Giang Urban Development and Investment Joint Stock Co (coded LGL) announced to issue additional 6 million shares with the purpose of increasing chartered capital from 80 billion dong to 140 billion dong.

In details, the company will offer additional 4 million shares for its existing shareholders at price of 15,000 dong per share at a ratio of 2:1, including 400,000 shares for LGL's current staff at price of 15,000 dong per share and offering 1.6 million shares for strategic shareholders or holding an auction session. The offered price would be no less than 80 percent of the average share price in 10 consecutive transaction sessions before the offering date but over 16,200 dong per share, the share value in the company's books on Sep 30, 2009.

This year, the company hopes to achieve total revenue of 232 billion dong, equal to 90 percent of the year plan; profit after tax of 36 billion dong, or 200 percent of the year plan and EPS of 4,000 dong per share.