Casumina to raise capital to over VNĐ1 trillion

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

Tags Vietnam capital CSM casumina

Foreign investors net sell in Vietnamese market, banking sector attracts interest

Economy

Việt Nam has opportunities to attract, develop the offshoring market

Economy

DATC warns of fraud, imposters

Economy

Vietnamese Prime Minister meets Apple CEO Tim Cook to discuss cooperation and development

Economy

Bình Dương issues licences for foreign projects at meeting

Economy

Market downturn restrained on growing bargain demand

More on this story

Economy

Gov’t to foster startups

The Government aims to have one million businesses by 2020, up from the current 500,000, and will offer assistance in the early stage of startups, Deputy Prime Minister Vương Đình Huệ said at an international seminar held in HCM City yesterday.

Economy

Transport business spreading its wings

After equitisation and restructuring, dozens of firms are considered sufficiently capable to contract for projects funded by overseas aid

Economy

PM issues budget directive

Prime Minister Nguyễn Xuân Phúc has asked ministries and agencies to initiate drastic and effective measures to ensure a balance in the State budget amid decreasing revenues and rising expenditure.

Economy

Quảng Ngãi proposes to shut down steel project

Authorities of the central Quảng Ngãi Province proposed shutting down the Guang Lian Dung Quất steel project, after inspecting project operations.

Economy

Oil prices help VN stocks rebound

Vietnamese shares advanced yesterday as oil prices rose for a second day, boosting energy stocks.

Economy

MoIT to check Ninh Bình fertiliser plant for efficiency

The Ministry of Industry and Trade (MoIT) will, in June, inspect the Việt Nam Chemical Group (Vinachem) and Ninh Bình Fertiliser Plant, a member company of Vinachem.

Economy

Catfish exporters prepare for strict US inspections

New US rule could lead to loss of American market, which accounts for more than 20 per cent of Vietnamese catfish exports

Economy

Việt Nam forecasts continued trade deficit this year

Việt Nam will continue running a trade deficit in 2016 that will be under 5 per cent of total export revenue, the Ministry of Industry and Trade (MoIT) has forecast.

Economy

Việt Nam sees boom in e-payments

Increased use of electronic payment products added US$880 million to Việt Nam’s Gross Domestic Product (GDP) from 2011 to 2015, according to a new report released by Moody’s Analytics.