Mai Linh Joint Stock Co (MLC) brought its total number of strategic investors to six after four new investors – IndochinaCapital, Arisaig Asean Fund, Phiem Aizawa Trust and Vina Securities – joined existing investors REE and Investco.
The six strategic investors will hold 24.65% of the preferential and common shares of MLC’s equity, of which, IndochinaCapital holds 14.45% while the Refrigeration Electrical Engineering Co (REE) holds 6.27%.
Earlier, VinaCapital financed VND50 billion (US$3.1 million) worth of converted bonds for MLC, according to a statement made at the latest shareholder’s meeting on Wednesday.
At the meeting, the company announced it had posted a revenue of VND280 billion ($17.5 million) in 2006, for a year-on-year increase of 13% and an after-tax profit of VND13.5 billion (over $840,000).
The firm also increased its charter capital in 2006 from VND68 billion ($4.3 million) to VND380 billion ($24 million). This year, the company plans to raise its capital to VND980 billion ($61.3 million).
During the meeting, it was also decided that the company would convert preferential shares to public shares at a 1:1 ratio from July 1 to 17.
Source: VNN
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