Coma 18 expects to raise chartered capital from 120b dong to 450b dong

The Construction Machinery Joint Stock Co No 18 (Coma 18) planned to issue additional shares to raise chartered capital from 120 billion dong to 450 billion dong.



The capital-raising process was expected to last in two phases:



In the first phase, the company will hike chartered capital from 120 billion dong to 360 billion dong via paying dividend in shares at 12 percent and offering shares to existing shareholders under ratio of 100:188 at price of 10,000-15,000 dong per share in Q2 of 2011.



In the second phase, Coma 18 will raise chartered capital from 360 billion dong to 450 billion.



The company will use the raised capital for investing in such projects of Nhuan Trach Industrial Zone, Hoa Binh province; Kim Thanh Industrial Zone, Hai Duong province and Nam Duong urban area in Quang Nam province.



In 2010, Coma 18 estimated to reach total revenue of 119.71 billion dong and after tax profit of 16.54 billion dong. Last year, the company successfully raised chartered capital from 60 billion dong to 120 billion dong.

Tags: Vietnam business

Posted by VBN on Apr 4 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry