Vietnam Dairy Products Joint Stock Company (VNM)’s Board of directors decided to seek shareholders’ approval for bonus share issuance, according to the Board’s resolution August 1.
VNM planned to issue at most 278,057,377 new shares to pay bonus shares to existing shareholders at 1-for-2 ratio in Dec, 2012 – Jan, 2013.
The firm will use its retained profit, investment and development fund to issue bonus shares.
Bonus shares will be rounded down to unit and odd shares (if any) will be canceled.
The firm will close the shareholder list on August 23, 2012 to seek approval.