Tan Phu Plastic Joint Stock Co (coded TPP) has lately released the resolution approved by the company’s management board about offloading shares in Tan Phu Central Region Plastic Joint Stock Co.
Accordingly, the company would transfer the total 97,500 shares, equivalent to 48.75 percent of Tan Phu Central Region Co’s chartered capital. The share offloading was expected to take place in Q4 of 2011.
Tan Phu Central Region Plastic Joint Stock Co has chartered capital of 2 billion dong. The company was established in November 2010, specialising in producing plastic products and packages.
In the latest financial reports, TPP announced to reach Q3 after tax profit of 1.7 billion dong, increasing by 38 percent year-on-year. Accumulatively, the company announced to gain Jan-Sep profit of 5.8 billion dong, up 27 percent against the same period last year.
Previously, Tan Phu Plastic Co had decided to delay raising chartered capital in 2011 due to difficulty in local stock markets.