Shareholders’ extraordinary meeting of Que Huong Liberty Joint Stock Co (Liberty) recently agreed a plan to scale up its chartered capital from 320 billion dong to 439 billion dong and then to 649 billion dong.
Accordingly, Liberty will issue 10.975 million shares priced at 20,000 dong per share to the existing shareholders at the ratio of 4:1 and 10.025 million shares priced at minimum 24,000 dong per share to the strategic partners.
Of which, its state shareholder namely Saigon Tourism Corp is given priorities to buy 14.44 percent stake.
The total proceeds from the share issuance will be used to support the company’s working capital and renovate Pullman Saigon Centre hotel, Novotel Saigon Centre hotel and Metropole restaurant.
In 2011, Liberty expects to gain 267 billion dong net revenue and 106 billion dong pre tax profit.