Dana Italy steel firm to issue 5m shares for raising chartered capital

Huynh Van Tan, chair of management board in Dana Italy Steel Joint Stock Co 9 (coded DNY) stated that up to now, the company has already finished all the necessary procedures and now waited for State Securities Commission’s licence to issue additional shares for increasing chartered capital.

The company planned to issue additional five million shares in order to hike chartered capital from 150 billion dong to 200 billion dong.

In details, the steel maker would offer three million shares for existing shareholders at ratio of 5:1 with offered price of 13,000 dong per share; and two million shares for potential partners at 25,000 dong per share.

The total gained value from this share-issuance period was expected at 89 billion dong, to be used to supplement the company’s working capital for business operation activities.

Tags: Dana-Italy Steel, Vietnam steel industry, vietnam stock, Vietnam stock market

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