VID plans 11 million share issuance to scale up chartered capital

VNStockNews.com - Shareholders' meeting of Vien Dong (Far East) Trade Development and Investment Joint Stock Co (coded VID) recently agreed a plan to issue 11,002,866 shares to hike chartered capital from 214.49 billion dong to 324.52 billion dong in 2009-2010.

Particularly, VID will offer 3,002,886 shares to the company's existing shareholders at the ratio of 14 percent. Of which, 1,286,951 shares will be issued to advance dividend for the first phase of 2009 at the ratio of 100:6 and 1,715,935 shares will be bonus shares at the ratio of 100:8.

In addition, the company's shareholders also agreed to retail eight million shares to big investors at the price of 12,625 dong per share.

After this share issuance, VID will have 32,452,077 shares being traded on the stock market, equaling to 324.52 billion dong of chartered capital.