SMC Trading and Investment Joint Stock Company – a listed steel manufacturer and supplier – is set to issue four million shares to increase its chartered capital to VND100 billion from the current VND75 billion. The issue is scheduled in late June.
As planned, SMC will offer 1.5 million bonus shares to existing shareholders at the ratio of one new share for every four held. The company will sell an additional 1.5 million shares to the shareholders at the ratio of 1:5 at the price of VND20,000 each.
The company will offer 300,000 shares at VND30,000 each to its staff and the remaining 700,000 shares to SMC’s strategic partners at VND40,000 each.
The mobilized capital will be used to invest in the company’s VND225 billion steel mill, which is expected to come on line in Ba Ria – Vung Tau Province late next year.
The raised funds will also be used to buy stakes in local steel plants as short-term investment.
In the first four months of the year the SMC obtained VND727 billion in turnover and nearly VND12 billion in pre-tax profits, accounting for 40 percent of the its plan this year.
Last year, it earned VND1.92 trillion in turnover and VND22.67 billion in pre-tax profits.
Source: Thanh Nien
Showing posts with label SMC. Show all posts
Showing posts with label SMC. Show all posts
Wednesday, May 16, 2007
Saturday, March 17, 2007
SMC inaugurates steels factory
The SMC Investment Trading Joint Stock Company (SMC.VSE) )inaugurated a 44 billion VND (2.75mio US$) steel factory in Phu My 1 Industrial Park (IP) in the southern coastal province of Ba Ria-Vung Tau on Mar. 16.
Covering 2.1 hectares, the SMC Phu My Steel Factory has an annual output of 30,000 tonnes of products which are used in construction, shipbuilding, bridge engineering and electrical industries.
SMC is also carrying out a project worth 200 billion VND (12.5mio US$) to build a mechanical manufacturing factory in the Phu My 1 IP.
The project is expected to become operational in late 2008 to meet growing demands for mechanical-steel products both at home and abroad.
The company sold 250,000 tonnes of steel last year and has targeted to hold 4.5-5% of the domestic market share by 2010 (around 450,000-500,000 tonnes).
Source: VNA
Covering 2.1 hectares, the SMC Phu My Steel Factory has an annual output of 30,000 tonnes of products which are used in construction, shipbuilding, bridge engineering and electrical industries.
SMC is also carrying out a project worth 200 billion VND (12.5mio US$) to build a mechanical manufacturing factory in the Phu My 1 IP.
The project is expected to become operational in late 2008 to meet growing demands for mechanical-steel products both at home and abroad.
The company sold 250,000 tonnes of steel last year and has targeted to hold 4.5-5% of the domestic market share by 2010 (around 450,000-500,000 tonnes).
Source: VNA
Thursday, November 02, 2006
SMC: First steel company goes on stock market
The SMC Trade Investment Joint Stock Company has become the first enterprise of the steel industry to join the HCM City Securities Trading Centre. The company floated 37,970 shares, code SMC, worth 1.21 billion VND (75,600 USD) on the first trading day on Oct. 30.
SMC is a distributor and outsourcer of iron and steel, with a capacity of more than 200,000 tonnes and a turnover of almost 2 trillion VND (125 million USD) per year. Its products are used in civil and industrial construction projects.
In 2006, the company issued 2.25 million shares to raise its chartered capital to 60 billion VND (3.7 million USD).
SMC is a distributor and outsourcer of iron and steel, with a capacity of more than 200,000 tonnes and a turnover of almost 2 trillion VND (125 million USD) per year. Its products are used in civil and industrial construction projects.
In 2006, the company issued 2.25 million shares to raise its chartered capital to 60 billion VND (3.7 million USD).
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