Intellasia News Services -- Steel maker issues 25m shares

Steel maker issues 25m shares
Source: 02/Jul/2009 Intellasia | Thoi Bao Kinh Te Vietnam Page 9
2 Jul, 2009 - 12:36:38 PM
Hanoi Stock Exchange (HNX) has announced that Vietnam-Germany Steel Pipe Joint Stock Co (coded VGS) was collecting its shareholders' opinions about issuing additional 25 million shares, equal to the value of 250 billion dong based on par value.

As per the details, 12,599,710 shares would be offered at the price of 10,000 dong per share for the existing shareholders at the rate of 1:1. The shareholders are able to transfer the purchasing rights once only. The maximum 625,000 shares would be issued for the company's staff with the par value of 10,000 dong per share. For the company's strategic investors, the company plans to offer maximum amount of shares among 3,530,000 shares with the offered price higher than that for the existing shareholders, decided by the management board. The rest would be issued for other subjects via auctions.