Hydropower firm (VSH) to raise capital

Vinh Son-Song Hinh Hydropower Plant JSC (HoSE: VSH) on January 8 will wrap up the list of shareholders to sell 30 million shares for VND10,000 (US$0.43) apiece.

 

The share issuance rate is 55:8, meaning every shareholder will receive one buying right for each share and eight new shares for each 55 buying rights they have.

The share issuance will help raise the firm’s charter capital to VND2.36 trillion ($102 million) from current VND2.06 trillion.

The income worth VND300 billion will be spent raising the firm’s counter capital at Thuong Kon Tum Hydropower Plant project.

The total investment capital for the new project is VND8.77 trillion, including VND6.14 trillion worth of loans and the firm’s own capital of VND457.8 billion.

Vinh Son-Song Hinh Hydropower Plant JSC estimates it would receive at least VND270 billion from the share sale.

The company’s shares are listed on the Ho Chi Minh Stock Exchange with code VSH.

Its shares gained 2.5 per cent to trade at VND18,650 apiece on Friday.

In the January-September period, the company earned VND26.4 billion worth of post-tax profit, down 75 per cent on-year.

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VSH 27,650 -350 -1.25%

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