Song Da 10.1 to cancel additional share issuance

Nguyen Van Tanh, general director of Song Da 10.1 Joint Stock Co (coded SNG) announced that the company planned to seek approval among the shareholders on March 30 about cancelling the previous capital-raising plan via issuing additional shares.



In details, SNG will cancel the plan of offering 605,000 shares for other investors in order to raise chartered capital from 38.05 billion dong to 45 billion dong. Instead of that, the company will hike capital via paying dividend in shares for the existing shareholders under the ratio of 5:1.



The company’s management board also proposed the 2011 targeted business plan with total revenue of 285.5 billion dong, total investment capital of 42.4 billion dong and profit of 36.3 billion dong.

Tags: Vietnam business, vietnam enterprices

Posted by VBN on Mar 25 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