Construction and Materials Trading Joint Stock Co (coded CNT) has submitted an approved resolution of the company’s shareholders meeting about collecting the shareholders’ opinion in document for a plan of issuing new shares in order to sponsor the construction project of C&T Plaza, a complex of office buildings, trade centres and high-end apartments located in An Phu ward, Dist 2, HCM City to the Ho Chi Minh Stock Exchange.
The total share volume to be issued for the company’s existing shareholders is estimated at two million shares with par value of 10,000 dong per share. The expected period of issue will be in Q4 of 2009.
The shareholders can buy new shares with the ratio of 4:1 or every four old shares for one new share.
CNT’s management board will take responsibility for giving the offer price of the new shares.