Lam Dong foodstuff firm to double chartered capital

Friday, May 2, 2008
Lam Dong Foodstuff Joint Stock Co (coded VDL) plans to double its chartered capital from the current of 12 billion dong to 24 billion dong through offering 1.2 million shares.

In particular, 900,000 shares will be offered to the existing shareholders at the ratio of 75 new shares for 100 shares held at the price of 18,000 dong per share, 60,000 shares sold to the company's employees at 25,000 dong per share and the remaining 240,000 shares allocated to strategic partners at the price equalling to 80% of average trading price of five consecutive trading sessions on the Hanoi Securities Trading Center (HaSTC) before the share issuing date.

Last year, VDL posted 151.845 billion dong in revenue and 9.223 billion dong from pre tax profit.

This year, the company plans to bring 175 billion dong in revenue, over nine billion dong from pre tax profit and pay 18% dividend.