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Sacomreal issues shares to raise capital

Update: December, 13/2014 - 09:55
Sacomreal. Photo
HCM CITY (VNS)  — Property developer Sacomreal will issue more than 37.5 million shares to increase its charter capital to nearly VND1.88 trillion (US$88.26 million).

Equity holders will be allocated with 7.5 million shares, while 30 million shares will be sold to existing shareholders at VND10,000 per unit. Shareholders need to register to participate during the purchase period, which will be from January 15 to February 9 next year.

The company will use VND250 billion ($11.7 million) from the issuance proceeds to reduce debts and add to their working capital. — VNS

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