Vinh Hoan Corp. offers 9m shares to strategic partners

VNStockNews.com - The management board of Vinh Hoan Joint Stock Co (coded VHC) has recently proposed to the company's shareholders the plan of issuing shares in order to increase chartered capital.

In details, VHC will work with the consultancy agent of Bao Viet Securities
Joint Stock Co (BVSC) for offering 9 million shares to strategic partners with the purpose of raising chartered capital from 300 billion dong to 390 billion dong.

The offered price is no less than 45,000 dong per share. It is expected that the company will gain about 405 billion dong from the share-issuing period.

The amount collected from this period will be used for restructuring the ownership capital and supplementing the company's working capital for business activities in the near future.

Up to Sep 30, 2009, the company's total amount of loans from bank was posted at over 817 trillion dong, in which long-term loans was 300 billion dong and supplementing for working capital of 49 billion dong.