The new capital mobilized from the share issue will be invested into the company’s projects, port construction, facilities purchases and real estate.
In the first stage, more than 7 million shares will be sold to existing shareholders and the company staff.
In the second stage, it will issue 5.8 million shares to strategic investors.
Gemadapt shares closed at 148,000 VND on Monday, down 4.51 percent for the day.
The listed logistics firm, with a chartered 200 billion VND (13.3mio US$), has a market share of 23% of the national port operation service.
It expects to earn 1.2 trillion VND (75mio Us$) in revenue this year. Planned revenues for 2007 are to rise by 32% to 99mio US$ and to 111mio US$ (+12%) in 2008.
Gemadept is forecast to reach pre-tax profit of 160 billion VND (9.9mio US$) this year and this figure is set to accelerate to 235 billion VND (14.6mio US$) and VND261 billion VND (16mio US$) in 2007 and 2008 respectively.
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