Vietnam's gold trading firm PNJ plans to sell 600,000 new shares, or 20 percent of the company, in an auction next month to raise at least $3.7 million, state media reported on Thursday.
The Ho Chi MinH City-based firm planned to use the proceeds from the auction, reserved for strategic investors, to raise its registered capital to 300 billion dong ($18.6 million), the Saigon Economic Times quoted company officials as saying.
The auction will be held at Dong A Securities Company on July 12.
Shares in PNJ, which plans to list on a domestic stock exchange early next year, have a face value of 100,000 dong ($6.2) but are being traded in the unofficial market at about 1.1 million dong ($68).
The company, whose full name is Phu Nhuan Jewellery Company, said on its Web site (www.pnj.com.vn) it had assets of about 695 billion dong ($43 million).
Source: Reuters
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