Masan Group plans to issue maximum $1.5b of GDR

27-Apr-2012 Intellasia | STC | 11:14 AM Print This Post

Masan Group Joint Stock Co (coded MSN) has recently announced the resolution of its annual general meeting (AGM) 2012 whereby the AGM agreed on a plan to issue new shares to hike chartered capital.

Accordingly, in 2012 and the first four months of 2013, MSN will issue maximum 310 million shares, of which, maximum 200 million shares will not collect cash and maximum 110 million shares to be issued to collect cash. MSN will sell for less than 100 individual investors.

Till the end of 2011, MSN gained a retained profit of 4.68 trillion dong but the company did not pay dividend.

The AGM also passed a plan to issue maximum 20 million new shares under the Employees Stock Ownership Plan (ESOP) in 2012 or in the first four months of 2013.

In addition, MSN plans to issue Global Depositary Receipt (GDR) and list these GDR on Singapore Stock Exchange. The GDR issuance is to serve the company’s business and investment demand towards long term strategy.

The scale of GDR issuance will be maximum $1.5 billion. The GDR will be issued once or several times in 2012 or in the first four months of 2013.


Category: Stocks

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