KDC aims to obtain 500b dong in pre-tax profit in 2012

Kinh Do Joint Stock Co (coded KDC) has released the documents to be submitted for approval in the 2012 annual general meeting (AGM). In detail, the company has set target to reach whole year net revenue of 5.5 trillion dong, pre-tax profit of 500 billion dong, increasing by 29.5 percent and 43.3 percent respectively against 2011.

This year, the company plans to pay dividend in cash at 24 percent rate.

KDC would issue additional 34,112,110 shares to hike chartered capital to 1.676 trillion dong. Of which, 26.4 million shares would be allocated to existing shareholders as bonus shares at ratio of 20 percent.

The other 1,320,256 shares would be allocated as bonus shares for board of directors.

The company would offer 481,025 shares for members of management board at 16,000 dong per share. The other 4.8 million shares would be offered to the current employees at the same price.

The rest 1,105,704 shares would be issued to swap with shares of Vinabico Joint Stock Co. Every 2.2 Vinabico’s shares would be swapped for one KDC-coded share. After the swap, Kinh Do would turn Vinabico into a one-member limited company with 100 percent of chartered capital kept by KDC.

In early 2012, KDC has already issued 14 million shares to offer for Japanese partner, Ezaki Glico Confectionary Co.

 

Category: Business