Dien Quang Lamp JSC plans to aggressively raise investment capital this year primarily through a series of share issues, says Ho Thi Kim Thoa, company chairwoman and CEO.
In July, Dien Quang plans to issue VND14 billion (US$875,000) in shares; VND6 billion to strategic partners and VND8 billion to the public.
The company will also list shares on HCM City stock exchange in the fourth quarter, and according to Thoa, plans to issue stock to existing shareholders at a 1:1 ratio as a dividend payment on mid-year earnings.
The money raised will go toward expanding the company’s business operations and increasing its charter capital from VND63 billion to VND500 billion by 2010, says the chairwoman.
Thoa predicts Dien Quang’s revenues this year will reach VND1.3 trillion ($81 million) with VND193 billion in pre-tax profit. The company’s objective is to average around 30-35% annual growth over the next few years.
Established in 1976, Dien Quang has grown into one of the leading manufacturers of light fixtures in Viet Nam, with five production plants nationwide. The company manufactures environmentally friendly light fixtures that use a limited amount of electricity and account for nearly three-fourths of the company’s revenue.
Source: VNS
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