SDH allowed to offer shares

VNStockNews.com - State Securities Commission (SSC) has recently approved Song Da Infrastructure Construction Joint Stock Co (SDH) to issue ordinary shares to the public to hike chartered capital from nearly 52 billion dong to 209.5 billion dong.

Accordingly, SDH will offer 15.75 million shares to the existing shareholders at the ratio of 1:3 (shareholders holding one share will have right to buy three new shares priced at the face value of 10,000 dong per share).

The capital being raised from the share issuance will be invested in Yen Phong II project (phase 1 and 2).

In 2010, the company targets to reach 70 billion dong of profit.

With a chartered capital of nearly 52 billion dong, SDH's after tax profit in 2009 was 22.5 billion dong.