The Tan Tao Industrial Zone JS Company (Itaco) has announced to issue an additional 20 million shares.
Ten millions shares will be sold to Itaco’s current shareholders under the 6:1 ratio (one who owns each six shares can buy one new share). The price will be 50% of the closed price of the day before the day of issuance but the price will not be lower than VND70,000 (4.375 US$) per share.
Five million shares will be sold to big investors in the form of price offerings. The rest five million shares will be allocated to strategic shareholders at the lowest price of VND85,000 (5.312 US$) per share.
The shares will be issued after 90 days since the company received the permission of the State Securities Commission.
Source: VNE
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