SAM Holdings seeks additional share issue to finance new investments
SAM Holdings seeks additional share issue to finance new investments
SAM Holdings Corp is seeking its shareholders’ approval to issue additional 101 million shares and offer a stock dividend rate of 3 per cent for the 2017 business result.
The plans, if they receive the nod of shareholders at the annual shareholders’ meeting on April 17, will be implemented in 2018 and 2019.
The wire and cable manufacturing and trading company will issue some 7.25 million shares to pay the stock dividend, while the additional share issue will be offered at the rate of 41.76 per cent and at a price not lower than VND10,000 per share.
The proceedings will be used to finance the purchase of State shares in State-owned enterprises’ divestment, restructure debts and supplement working capital.
The company’s charter capital is expected to increase from VND2.4 trillion to VND3.5 trillion (US$153.5 million) after the two issues.
Its board of directors has also proposed business targets of VND2.95 trillion in revenue and VND180 billion in pre-tax profit for 2018, up 20 per cent and 26 per cent, respectively, against 2017.
This year, the company will evaluate the effect of its investment projects and divest from some ineffective projects. It will also promote investment in new areas such as high-tech agriculture.
The dividend rate is projected at 3 per cent, as that of 2017.
.jpg)
