Vietnam construction firm Song Da 9 (SD9) said on Tuesday it would sell 4 million new shares by auction to raise about $10 million to purchase equipment and expand its business.
The company, which specalises in power plants and irrigation projects, said the auction would be held before September 18 and it would would issue 2.95 million shares to existing shareholders at 10,000 dong each ($0.62) next month.
The amount of money the firm sought to raise suggested it aimed to sell the shares at about 40,000 dong each ($2.5), traders said.
At 0230 GMT, shares in the company were traded on the Hanoi exchange at 72,000 dong ($4.5), down 0.55 percent from Monday.
Song Da 9 now has a price to earnings ratio of 21.20 and a return on equity of 30.89 percent.
Source: Reuters
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