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VietNamNews

Casumina to raise capital to over VNĐ1 trillion

Update: June, 08/2016 - 11:31
Southern Rubber Industry JSC, or Casumina (CSM), planned to issue 29.6 million bonus shares to increase its charter capital as of yesterday.— Photo infonet.vn

HÀ NỘI  —  Southern Rubber Industry JSC, or Casumina (CSM), planned to issue 29.6 million bonus shares to increase its charter capital as of yesterday.

The shares worth VNĐ10,000 (US$0.43) each will be issued to shareholders. After the issuance, HCM City-based Casumina would have another VNĐ296 billion in charter capital, which will rise in value to over VND1 trillion.

The firm’s largest shareholder, Việt Nam National Chemical  Group (Vinachem), which now owns over 51 per cent of stakes, will have another 15.1 million shares. At the current VNĐ32,700, Vinachem will get nearly VNĐ500 billion.

Established in 1976, CSM is now among the leading producers of rubber tyre products in Việt Nam. It earns 63 per cent of revenue from local trading, 25 per cent from exporting for the regional and international market and the rest from other trading activities. — VNS

 

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