HA NOI — Property developer FLC (FLC) plans to merge with its affiliate FLC Land by issuing 60.18 million shares to swap for 51 million FLC Land shares – equivalent to a 1:1.18 ratio of exchange.
After the merger, FLC's charter capital will increase to VND771.8 billion (US$36.7 million), while total assets reach VND2 trillion.
Accordingly, FLC is said to benefit VND160 billion ($7.6 million) from the sale of the FLC Landmark Tower project.
However, company bank loans after merger will be approximately VND200 billion ($9.5 million).
FLC's shareholder meeting has approved this year's dividend payment at 15 per cent.-VNS