Unicons issues additional 2.5m shares to hike chartered capital

Uy Nam Construction Investment Joint Stock Co (Unicons) lately announced its 2010 business plan, in which the company targets to reach total revenue of 750 billion dong, profit after tax of 40 billion dong and dividend payment in cash of 20 percent.

In addition, the company’s shareholders also approved for issuing 2.51 million shares in order to increase chartered capital from 27.9 billion dong to 53 billion dong in two phases in Q3 of 2010.

In the first phase, Unicons would issue 695,300 shares for strategic partner of Cotec Construction Joint Stock Co (Coteccons – coded CTD) at offered price of 25,000 dong per share; 726,700 shares for other potential partners at price of no less than 25,000 dong per share and allocate 837,000 bonus shares for its existing shareholders at ratio of 10:3.
In the second phase, the company will offer 251,000 shares for current employees at preferential share price of 10,000 dong per share.

Unicons planned to use the raised capital in investment project of storage for raw materials and equipment in Binh Duong province and supplementing its working capital, in order to strengthen the company’s position in the construction markets.

Last year, the company reported earning total revenue of 663 billion dong, after tax profit of 38.2 billion dong over chartered capital of 27.9 billion dong. The construction firm planned to allocate bonus shares by 50 percent and pay dividend in cash at 20 percent. Previously, Unicons had advanced dividend of 10 percent. The rest was supposed to be paid in April 2010.

 

Category: Stocks