Pyn Elite Fund divests capital in HCM City Infrastructure Investment (CII)
Pyn Elite Fund divests capital in HCM City Infrastructure Investment (CII)
Pyn Elite Fund, a Finnish fund which focuses on Vietnamese shares, on Monday announced it had sold nearly 337,000 shares of the HCM City Infrastructure Investment JSC (CII). 
After the sale, the fund cut its ownership in CII from 8.1 per cent to 7.96 per cent.
On March 20, the fund also sold more than 1.4 million shares of CII.On March 26, it sold 66,810 shares and 1.5 million shares on April 7.
CII Investment Director Duong Quang Chau recently registered to sell 200,000 CII shares from May 19 to June 17.
In the General Meeting of Shareholders held early this month, CII proposed two scenarios for 2020 business results.
In the first scenario, CII set a revenue target of VND5.8 trillion (US$249.3 million) and post-tax profit of VND808 billion.
In a more plausible scenario, the company hopes to achieve revenue of VND6.6 trillion and profit of VND1.6 trillion.
The company plans to issue 1.24 million bonds in conjunction with warrants, known as warrant-linked bonds, for existing shareholders at the rate of 200:1. This means a shareholder can buy one bond for every 200 shares they own.
The total amount of capital raised through bond issuance is expected to exceed VND1.2 trillion.
The company also plans to issue 160 million shares to the public at a price of VND10,000 per share.
CII closed Monday at VND19,250 per share.
