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Hydropower firm to raise capital

Update: December, 26/2020 - 15:02
Vĩnh Sơn-Sông Hinh Hydropower Plant JSC (HoSE: VSH) on January 8 will wrap up the list of shareholders to sell 30 million shares for VNĐ10,000 (US$0.43) apiece.— Photo cafef.vn

 HÀ NỘI — Vĩnh Sơn-Sông Hinh Hydropower Plant JSC (HoSE: VSH) on January 8 will wrap up the list of shareholders to sell 30 million shares for VNĐ10,000 (US$0.43) apiece.

The share issuance rate is 55:8, meaning every shareholder will receive one buying right for each share and eight new shares for each 55 buying rights they have.

The share issuance will help raise the firm’s charter capital to VNĐ2.36 trillion ($102 million) from current VNĐ2.06 trillion.

The income worth VNĐ300 billion will be spent raising the firm’s counter capital at Thượng Kon Tum Hydropower Plant project.

The total investment capital for the new project is VNĐ8.77 trillion, including VNĐ6.14 trillion worth of loans and the firm’s own capital of VNĐ457.8 billion.

Vĩnh Sơn-Sông Hinh Hydropower Plant JSC estimates it would receive at least VNĐ270 billion from the share sale.

The company’s shares are listed on the Ho Chi Minh Stock Exchange with code VSH.

Its shares gained 2.5 per cent to trade at VNĐ18,650 apiece on Friday.

In the January-September period, the company earned VNĐ26.4 billion worth of post-tax profit, down 75 per cent on-year. — VNS

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