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ITA set for $55.5 million share offer

Update: March, 05/2013 - 11:00

HCM CITY (VNS) — Tan Tao Investment&Industry Corp (ITA) will issue nearly 115.7 million shares worth a total of almost VND1.16 trillion (US$55.5 million), the company announced on its website.

The issue, projected this month, will be carried out through a private placement with the goal of counterbalancing the company's liabilities.

At the company's annual shareholders' meeting in April last year, ITA approved a plan of issuing 140 million shares worth VND1.4 trillion ($67 million) to four companies (Tan Tao University and ITA Fund – For the future, Southern Delta JSC, Tan Duc Construction and Investment Co and Ban Mai production and entertainment) for their 2010-11 capital lending. — VNS

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