Vinaconex 11 adjusts share offering plan

Vinaconex 11 Joint Stock Co has announced that it changed the business production plan for 2008 and adjusted the share offering plan as well. Accordingly, the company’s revenue target was lowered down to 430 billion dong from the previous 550 billion dong while the profit plan was reduced from 22 billion dong to 13.2 billion dong only.

The firm also cancelled the capital increase plan through issuing four million shares to existing shareholders at ratio 10:8, offering 250,000 shares to employees, and another 750,000 shares to strategic partners.

Under the amended plan, Vinaconex will offer 4.5 million shares to existing shareholders according to the ratio 10:9, 245,000 shares to employees and 255,000 shares to strategic partners.

If the new offering plan succeeds, the company will raise at least 50 billion dong for investing in the first stage of technical platform system and paying land using fee of Housing Project for the employees of National Assembly’s Office in Quoc Oai Urban Area, Hanoi.

 

Category: Stocks