HCM CITY (VNS)— Shareholders of Kinh Do Corp have approved an increase in charter capital this year to over VND2 trillion (US$95.5 million) from the current VND1.665 trillion.
For this, the company will issue 33 million shares, including 6.5 million to be sold to employees at VND18,000 per share. Another 1.1 million shares will be used for swapping with shares of affiliate company Vinabico which will merge with KDC this year at the ratio of 1:5.
The company targets gross profit of VND9.6 trillion ($457 million) on a turnover of VND95.2 trillion ($4.5 billion) this year, up 22.5 per cent and 21.5 per cent from 2012.
It is likely to pay a cash dividend of 20 per cent for 2013.-VNS