Vietnam's top information technology firm FPT Corp. will add more than 30 million new shares to the country's main stock market next week, raising the market capitalisation by nearly 5%.
A Ho Chi Minh Stock Exchange statement on Friday said it has allowed the Hanoi-based firm, the market's third-largest, to add 30,405,114 newly issued shares to trading from next Tuesday.
FPT issued the new shares to raise its registered capital by 50% to 912.15 billion dong ($56.6 million).
The new shares would help boost the market capitalisation by 4.6% to 212.18 trillion dong ($13.2 billion) from Friday's value of 202.76 trillion dong.
Shares in FPT closed up 1.64% at 310,000 dong ($19.2), valuing the firm at nearly $1.2 billion.
The Vietnam Index ended 0.52% higher at 1,048.19 points on Friday, having risen 39.4% so far this year.
FPT has been seeking to diversify away from its core businesses of software production, mobile phone distribution and Internet services and establish a foothold in Vietnam's quickly expanding financial services market.
It has won preliminary agreements to form a securities brokerage and a fund management unit, both of which are expected to start operation next month. It is also seeking central bank permission to open a commercial bank.
Source: Reuters
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