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TTF to use $15m share raising to pay down debts

Aug 19th at 15:46
19-08-2014 15:46:04+07:00

TTF to use $15m share raising to pay down debts

Truong Thanh Furniture (TTF) announced it is finalising procedures to issue more than 31 million shares, hoping to raise VND310 billion (US$14.6 million) to reduce debts. The sale is expected to conclude by the end of this quarter.

 

In the second quarter of this year, the company's net profit reached VND30 billion ($1.4 million), increasing by nearly 16 times compared to the corresponding period last year. As of June 30, the company's debts accounted for 70 per cent of its capital, increasing 9 per cent compared to the beginning of this year.

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