Dabaco approves plans to raise capital for soybean oil plant investment

Jun 10th at 15:31
10-06-2024 15:31:39+07:00

Dabaco approves plans to raise capital for soybean oil plant investment

Dabaco Vietnam, Việt Nam's leading livestock firm, has approved plans to increase its charter capital through an Employee Stock Ownership Plan (ESOP) and by offering shares to existing shareholders, aiming to raise over VNĐ1.2 trillion (US$47.2 million) for investment in a soybean oil pressing and refining plant.

A worker feeding pigs at one of Dabaco's farms. — VNA/VNS Photo

The first plan involves offering 12 million shares under ESOP, which accounts for 4.96 per cent of the total outstanding shares. The issuance price is set at VNĐ10,000 per share.

The implementation of this plan is scheduled for 2024, following approval from the State Securities Commission. The ESOP shares will have a transfer restriction for a period of 12 months from the date of issuance.

Additionally, Dabaco has approved a plan to offer shares to existing shareholders at a rate of 33.33 per cent. This means each shareholder owning 100 shares will have the right to purchase more than 33 new shares at VNĐ15,000 per share. This plan is expected to be executed in 2024.

Currently, DBC shares are trading on the stock market at VNĐ34,850 per share. The estimated offering price to existing shareholders is approximately 57 per cent lower than the market price.

Based on the number of outstanding shares, Dabaco plans to offer an additional 80.6 million shares to existing shareholders, aiming to raise over VNĐ1.2 trillion.

If both offerings are successfully completed, Dabaco's charter capital will increase from VNĐ2.4 trillion to VNĐ3.3 trillion. The total amount raised, approximately VNĐ1.3 trillion, will be entirely used by the company to invest in Dabaco Vegetable Oil Company Limited for the implementation of the "Investment Project to build Dabaco soybean oil pressing and refining plant."

The disbursement of the mobilised capital for the investment project is expected to take place between the third quarter of 2024 and the fourth quarter of 2025. 




​Virtual assets in Vietnam estimated to reach $120bn

Around 20 million Vietnamese possess virtual assets, and the total value of cryptos traded in the local market is projected to reach up to US$120 billion last year.

Long Hậu sets to divest from Sài Gòn - Hiệp Phước Port

After a poor performance in the first quarter of 2024, Long Hậu Corporation is now looking to sell its stake in Sài Gòn – Hiệp Phước Port JSC.

Robust infrastructure and customer demand reshape the transportation market

Recent robust infrastructure development and customer demand are reshaping the transportation market towards diversifying products and improving services quality...

HCM City hosts international jewellery expo

The 18th Việt Nam International Jewellery Exhibition opened at Nguyễn Du Stadium in HCM City on June 8.

Quảng Nam techfest promotes innovation, startup

Thousands of startup initiatives and products, OCOP items, and standout rural industrial goods are on display at the TechFest Quảng Nam 2024, an innovation startup...

Trans-Asia trade fair 2024 opens in Quảng Trị

The Trans-Asia Bridge trade-tourism fair 2024 opened in Quảng Trị central province’s Đông Hà City on June 6.

Seminar shares insights about export market trends

An insightful seminar titled "Market Trends and Export Opportunities for Vietnamese Agricultural Products and Processed Foods in International Distribution Systems"...

​More Vietnamese products, including monkeys, paved way to enter Chinese market

The Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China have agreed to ramp up cooperation in agricultural...

Experts stress the need to promote fruit sales, regulate export markets as peak season arrives

Việt Nam's seasonal fresh fruits are about to come to peak harvest and the volumes offer perfect opportunities to boost exports.

Vietnam's manufacturing boom: Japanese giants see golden opportunity

Japan Business Pitch Vol.1 held in Hanoi aims to explore collaboration opportunities between Japanese and Vietnamese businesses, particularly in the manufacturing...


Back To Top