Bibica postpones share issue

Thursday, May 15, 2008
Bien Hoa Confectionery Joint Stock Corp (Bibica)'s extraordinary shareholders' meeting recently decided to delay the plan of issuing shares at 10,000 dong par for the second phase at the ratio of three new shares for 10 shares held.

According to Bibica, the main reason is the downward tendency of the stock market. Issuing more shares could dilute the value of the company's share and cause disadvantages for the company's existing shareholders.

Bibica has not fixed the exact time yet for issuing shares for the second phase and the issue plan may be postponed until 2009.