Vinaconex 6 to scale up chartered capital

Wednesday, April 23, 2008
Construction Joint Stock Co No 6 (Vinaconex 6-VC6)'s annual shareholders' meeting recently passed the plan to offer one million more shares to hike the chartered capital to 50 billion dong from the current of 40 billion dong.
Under it, VC6 will offer shares to the existing shareholders at the ratio of one new share for four shares held with the expected price accounting for 80% of the average price of five latest consecutive sessions on the Hanoi Securities Transaction Centre (HaSTC).
According to VC6, with the holding 51% of chartered capital, Vinconex Joint Stock Corp will have right to buy 510,000 shares and the remaining 490,000 shares will be sold to other shareholders.
The capital being mobilised from the share issue will be invested in the complex project of high-rise building in Hanoi, Vinaconex 6-Dai Lai villas area in the northern province of Vinh Phuc and invested in equipments and machines.
Last year, VC6 made a revenue of 229.529 billion dong, 8.008 billion dong from pre tax profit and 5.892 billion dong from after tax profit.
This year, the company target to earn 275.1 billion dong in revenue and 12.2 billion dong from pre tax profit. (DTCK)