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Hoa Phat wants to issue shares to employees

Update: July, 12/2014 - 10:03
HA NOI  (VNS) — Steel maker Hoa Phat Group (HPG) will seek the opinion of its stakeholders about issuing shares under the employee stock ownership plan (ESOP) as bonuses for its internal staff.

HPG plans to issue more than 9.6 million ESOP shares. With HPG currently being traded at around VND55,000 or $2.6 per share, the ESOP shares, which are expected to be issued in the next two years, are estimated to be worth VND530 billion or $24.9 million.

HPG expects to earn VND23 trillion or $1.08 billion in turnover and VND2.2 trillion or $130 million this year, up 25 per cent and 80 per cent respectively over last year. — VNS

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