The State Securities Commission (SSC) lately issued Decision No 574/UBCK-GCN approving for Cement Finance Joint Stock Co (CFC) to issue shares to public on May 27, 2010.
Accordingly, the company planned to issue 31 million shares, equal to share value of 310 billion dong to increase its chartered capital from 300 billion dong to 610 billion dong, in which 30 million shares will be offered for existing shareholders and one million shares for CFC’s current staff.
The company will use the raised capital for establishing the company’s branch in HCM City, investing in stocks and supplementing capital for credit activities, trading foreign currencies.
As planned, CFC will officially list shares on Hochiminh Stock Exchange (STC) by the end of 2010. The company planned to continue increasing chartered capital from 610 billion dong to one trillion dong via issuing shares to public and for domestic, international strategic investors in early 2011.
In Q2, the company targeted to reach total asset value of 3.128 trillion dong with expected accumulative prodit of 50 billion dong.