Lu Gia power and machinery firm to scale up chartered capital to 80b dong
08-MAY-2008 Intellasia | 05/May/2008 Dau Tu Chung Khoan
May 8, 2008 - 7:00:00 AM
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The Lu Gia Mechanical Electric Joint Stock Co (coded LGC)'s shareholders' annual meeting recently passed the plan to offer five million shares to hike its chartered capital from the current of 30 billion dong to 80 billion dong. In particular, 4.5 million shares will be offered to the existing shareholders at the ratio of 1.5 new shares for one share held with the offering price of 15,000 dong per share, 150,000 others will be sold to the company's employees at the price of 15,000 dong per share and the remaining 350,000 shares will be allocated to the strategic partners including Saigon Automobile Mechanical Engineering Corp (Samco), HCM City-based Technique Infrastructure Investment Joint Stock Co (CII) and other strategic shareholders.
The capital being mobilised from the share issue will be invested in the project to build Lu Gia apartment area at 70 Lu Gia Street in HCM City's District 11.
The shareholders' meeting also passed this year's business plan with 120 billion dong in revenue, 40.6 billion dong from pre tax profit, 30 billion dong from after tax profit, dividend of 17% and EPS could be 10,000 dong per share.
Reportedly, the company planed to pay 15% dividend in cash for 2007.
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