SCO to issue 2.5m shares to hike chartered capital

11-May-2012 Intellasia | Vietstock | 7:56 AM Print This Post

The UPCoM-listed Seaproduct Mechanical Joint Stock Co (coded SCO) in the annual general meeting (AGM) held recently has approved for issuing additional 2.5 million shares to hike chartered capital from 42 billion dong to 67 billion dong.

The company would offer the shares to the existing shareholders at applied ratio of 1:0.615 with offering price of 10,000 dong per share. The management board has been authorised for selecting the appropriate time for conducting the share issuance.

The raised capital would be used for supplementing working capital for business activities, upgrading the fixed asset and contributing capital for building new office buildings.

This year, the company expects to reach whole year after tax profit of 2.2 billion dong, declining by 12 percent against the previous year. SCO would pay dividend at 5 percent in 2012.


Category: Stocks

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