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Hiep Phuoc IP to raise capital to $44.4 million

Nov 24th at 15:07
24-11-2017 15:07:00+07:00

Hiep Phuoc IP to raise capital to $44.4 million

Hiep Phuoc Industrial Park Joint Stock Company (HPI) plans to sell shares to existing shareholders to raise its charter capital to VND1 trillion (US$44.4 million) from the current level of VND600 billion.

 

The company will issue an additional 40 million shares at value of VND10,000 per share to current shareholders to receive VND400 billion in cash.

Each shareholder is eligible to buy two shares for every three shares that they own. The issuance was approved at the company’s shareholder meeting in April.

Hiep Phuoc Industrial Park JSC was founded in June 2007 as a project managed by Tan Thuan Industrial Promotion Company Limited.

The company has the sixth largest total area of industrial parks in Viet Nam.

The company’s 60 million shares debuted on the Unlisted Public Company Market (UPCoM) in early October, having declined by 28.5 per cent to end Wednesday at VND16,000 per share.

In the first half of 2017, the company its profit of VND38.2 billion, six times last year’s figure.

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