Truong Thanh Furniture plans 44.4 million USD share issue in Q3
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Truong Thanh Furniture plans 44.4 million USD share issue in Q3

Economy, Vietnam, Vietnam Finance News

VNA
Tuesday, June 20, 2017 – 10:17:00 Print

Vietnamese workers make furniture (Photo: thuonggiaonline.vn)
HCM City (VNA) – Truong Thanh Furniture
Corporation may issue 100 million shares, worth 1 trillion VND (44.4 million
USD), to raise capital for restructuring its debt and improving production.

The share issue is included in a company
proposal that will be discussed at the annual shareholder meeting scheduled on
June 26.

The shares will be sold to current shareholders
in the third quarter of 2017 and will remain untradeable for one year from the
issue date.

The share issue will help increase the firm’s
charter capital to nearly 2.44 trillion VND.

The company’s management board also plans to
propose to shareholders issuing 7.6 million bonus shares with the rate of 5.26
percent.

In 2017, the Truong Thanh Furniture Corporation
targets 1.25 trillion VND in revenues and 35.5 billion VND in post-tax profit.
The target figures for 2021 are 2.62 trillion VND and 319 billion VND,
respectively.-VNA

QBCA

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