Cong Thanh cement producer to hike chartered capital to 2tr dong in 2012

Annual shareholders’ meeting of Cong Thanh Cement Joint Stock Co recently passed this year business plan with 835 billion dong of revenue, 75 billion dong of after tax profit, up 27 percent and 134 percent year-on-year respectively.

As planned, the company will spend up to 92 percent of after tax profit on paying dividend in cash to the shareholders.

In 2009, the company also agreed to pay 3 percent dividend in cash, equalling to 84 percent of the company’s after tax profit.

From 2010-2012, the cement producer will scale up chartered capital from 900 billion dong to two trillion dong.

Accordingly, Cong Thanh cement firm will offer 110 million shares priced at 10,000 dong per share to the existing shareholders to raise capital for the second production line of Cong Thanh cement plant that has capacity of 10,000 tonnes clinker/day.

The share price of Cong Thanh Cement JSC in the free market now is 9,000-10,000 dong per share.

Tags: Cong Thanh Cement, Vietnam cement, vietnam stock, Vietnam stock market

Posted by VBN on Jun 2 2010. Filed under Cement, Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry