Monday, November 18 2019

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Hữu Nghị confectionery to raise VNĐ100 billion to pay debts

Update: October, 16/2019 - 17:54

 

HNF shares plummeted from the peak of VNĐ132,000 per share on February 28 to VNĐ45,000 per share on Wednesday, equivalent to 66 per cent decrease with very low liquidity. — Photo vtc.vn

HÀ NỘI — Hữu Nghị Food Joint Stock Company (HNF) plans to issue 10 million shares to existing shareholders to increase its charter capital from VNĐ200 billion to VNĐ300 billion (US$8.6 to $13 million).

The company will offer the shares at the price of VNĐ10,000 each.

 A shareholder who owns one share is entitled to one right to purchase.

Money raised from the sale will be used to pay short-term loans of VNĐ92.4 billion and supplement working capital for production and business, the company said.

HNF shares plummeted from the peak of VNĐ132,000 per share on February 28 to VNĐ45,000 per share on Wednesday, equivalent to 66 per cent decrease with very low liquidity.

The book value at the end of 2018 of HNF was VNĐ13,400 per share.

HNF has just decided to offload nearly 1.2 million treasury shares during October 8-31. The value of treasury shares was more than VNĐ49.6 billion.

The company specialises in confectionery production. It recorded a net revenue of VNĐ579 billion in the first six months, down 15 per cent, and post-tax profit of VNĐ136 billion, down 12 per cent year-on-year. — VNS

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