Sico plans to offer shares to existing shareholders at the rate of 1:3

Song Da Infrastructure Construction Joint Stock Co (Sico – coded SDH) has announced the resolution approved in the company’s meeting on November 13, in which the company cancelled offering shares for the strategic shareholders.

Previously, Sico had informed issuing 2.825 million shares for the strategic shareholders to increase the chartered capital from 51.7 billion dong to 80 dong. However, the company’s management board has lately collected the shareholders’ opinion for halting to offer these shares.

In order to supply sufficient capital for carrying out the investment capital, Sico’s management board has sought for shareholders’ approval for issuing shares or corporate bonds or project bonds to increase the registered capital.

In details, the company planned to issue 15.775 million shares, equal to share value of 157.75 billion dong in 2010 with the purpose of raising its chartered capital from 51.75 billion dong to 209.5 billion dong. The company would offer 15.525 million shares to the existing shareholders at the rate of 1:3 and offered share price of 15,000 dong per share, and the rest 250,000 shares to be offered to the company’s current staff at the time it closes the list of shareholders with the similar offered price.

Sico’s management board got approval for issuing the corporate bonds or project bonds with total value of 200-300 billion dong.

The management board has collected the shareholders’ opinions about the approval of investment projects and the concerning contracts relating to the in-progress projects such as Yen Phong 2 industrial zone, tourism and urban area in Bac Ninh province with total site of 479.6 hectares, and the construction on office buildings, vocational training centre on an area of 1,130 square metres in Trung Kinh, Cau Giay Dist, Hanoi.

 

Category: Stocks