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TTF plans $44.4 million share issue in Q3

Jun 19th at 10:51
19-06-2017 10:51:41+07:00

TTF plans $44.4 million share issue in Q3

Truong Thanh Furniture Corporation may issue 100 million shares, worth VND1 trillion (US$44.4 million), to raise capital for restructuring its debt and improving production.

 

The share issue is included in a company proposal that will be discussed at the annual shareholder meeting scheduled on June 26.

The shares will be sold to current shareholders in the third quarter of 2017 and will remain untradeable for one year from the issue date.

The share issue will help increase the firm’s charter capital to nearly VND2.44 trillion.

The company’s management board also plans to propose to shareholders issuing 7.6 million bonus shares with the rate of 5.26 per cent.

In 2017, Truong Thanh Furniture Corporation targets VND1.25 trillion in revenues and VND35.5 billion in post-tax profit. The target figures for 2021 are VND2.62 trillion and VND319 billion, respectively.

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