Wednesday, May 23 2018

VietNamNews

STK plans to issue 10.8m shares

Update: April, 05/2018 - 06:00
STK targets a revenue of over VNĐ2.3 trillion this year, a year-on-year increase of 18 per cent. — Photo baomoi.com
Viet Nam News

HÀ NỘI — Sợi Thế Kỷ Joint Stock Company (STK) targets a revenue of over VNĐ2.3 trillion (US$101 million), pre-tax profit of VNĐ131 billion and after-tax profit of nearly VNĐ126 billion in 2018.

This marks a year-on-year increase of 18 per cent, 25 per cent and 26 per cent, respectively.

The company will submit these targets in the business plan for 2018 at the annual shareholders’ meeting, expected to take place on April 17.

In addition to this, STK will ask for shareholders’ comments on the issuance of nearly 10.8 million shares.

Of this, STK plans to issue nearly 4.2 million shares to pay dividends for fiscal year 2017 at a rate of seven per cent and another 600,000 shares under the employee stock ownership plan at VNĐ10,000 (44 US cents) per share. The company also plans to issue nearly six million shares to existing shareholders at the rate of 10 per cent, with the selling price not lower than the par value and not higher than the price at the end of the previous session a day before the notice of closing rights on HCM Stock Exchange.

A total of nearly VNĐ60 billion is expected after the issuance is used to invest in the Trảng Bàng 5 project. If the issuances of shares succeed, the charter capital of the company will increase to more than VNĐ707 billion.

In 2017, STK achieved a revenue of nearly VNĐ2 trillion and an after-tax profit of more than VNĐ99.6 billion. The company expects to pay 15 per cent dividend for 2017, with a total of more than VNĐ89.9 billion. Of this, eight per cent will be in cash, equivalent to over 47.95 billion, and seven per cent will be in shares, equivalent to more than 41.9 billion.— VNS

 

 

 

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