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TTF to use $15m share raising to pay down debts

Update: August, 19/2014 - 08:00
In the second quarter of this year, the company's net profit reached VND30 billion ($1.4 million), increasing by nearly 16 times compared to the corresponding period last year.— Photo vietq.vn

HA NOI (VNS) — Truong Thanh Furniture (TTF) announced it is finalising procedures to issue more than 31 million shares, hoping to raise VND310 billion (US$14.6 million) to reduce debts. The sale is expected to conclude by the end of this quarter.

In the second quarter of this year, the company's net profit reached VND30 billion ($1.4 million), increasing by nearly 16 times compared to the corresponding period last year. As of June 30, the company's debts accounted for 70 per cent of its capital, increasing 9 per cent compared to the beginning of this year. — VNS

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