Vincom Centre Nguyen Chi Thanh commercial centre, run by Vingroup (Photo: tieudungplus.vn)Hanoi (VNA) - Real estate and retail giantVingroup plans to sell 250 million private shares to a maximum of five foreigninvestors in the remaining months of the year.
The selling price is set at a minimum of 100,000 (4.30 USD)per share, valuing the deal at least at 25 trillion VND (1.07 billion USD).
Vingroup has 32.75 trillion VND in chartered capital, whichis divided into 3.19 billion common shares and 84 million preferred shares.
Capital raised from the share issuance will be spent ondeveloping its agriculture and technology sub-units (6 trillion VND), payingloans and interest (10 trillion VND) and providing additional capital for theparent company and subsidiaries (9 trillion VND).
By December 31, 2018, Vingroup had 289 trillion VND (12.46billion USD) in total assets and 99 trillion VND (4.27 billion USD) in equity.
The upcoming share issuance is included in the company’sfiles and will be reported to shareholders at its annual shareholder meeting,the date of which is not yet known.
In August 2018, Vingroup sold 84 million preferred shares toKorean firm Hanwha Asset Management for 9.3 trillion VND (400 million USD).
The company has 3.19 billion common shares listed on the HoChi Minh Stock Exchange (HoSE: VIC).
The company’s shares lost 0.9 percent on March 13 to closeat 117,500 VND per share.-VNA
VNA
