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Seed company issues shares to raise capital

Update: December, 10/2013 - 08:50
Foreign ownership in PVT is currently only 3 per cent, while the permitted amount is 49 per cent. Maybank KimEng Securities predicted FTSE would purchase some 8 million PVT shares and reduce the proportion of existing stocks.— Photo nangluongvietnam

HA NOI (VNS)  — National Seed Company (NSC) will issue over 5 million shares to increase its charter capital from VND100 billion (US$4.7 million) to VND152.5 billion ($7.19 million).

The shares will be issued to existing shareholders at the price of VND65,000 ($3) per unit. The proceeds will be allocated to increase stakes to more than 51 per cent in other companies in the same industry and invest in facilities. NSC shares closed yesterday's session 2.5 per cent lower at VND77,000 ($3.6).. — VNS

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