HHC offers 8.12 million shares to raise charter capital

Update: March, 19/2016 - 10:02

HÀ NỘI (VNS) — Hải Hà Confectionery JSC (HHC) planned to issue 8.12 million shares worth VNĐ10,000 (US45 cents) each between Q2 and Q3 in order to double the current charter capital.

HHC said it offered the shares to its existing shareholders at VNĐ11,000 (US49 cents) each at the ratio 1:1, adding that the remaining shares not bought by the shareholders would be sold to other investors at prices not lower than VNĐ 11,000 each.

After the sale, HHC will spend VNĐ90 billion (US$4.04 million) on a new confectionery plant spanning more than 48,000sq.m in VSIP Bắc Ninh Industrial Zone.

Last year HHC earned VNĐ781 billion (US$35.04 million)  in revenue and VNĐ34 billion (US$1.53 million) in profit. HHC planned for VND800 billion (US$35.89 million) in revenue this year and a 10 per cent dividend on the new charter capital.  

The company will hold its general shareholders meeting on March 26.

On March 18, HHC closed at VNĐ31,000 (US$1.39) in the unlisted market on HNX. — VNS