Saigon Water to sell 37 million shares to raise charter capital
HÀ NỘI — Saigon Water Infrastructure Corporation (SII) has approved a plan to issue 三 七. 四 二 million shares to existing shareholders to increase its charter capital.
The offering price is expected to be VNĐ 一 六, 九00 (US$0. 七 三) per share, higher than the current market price that stood at VNĐ 一 五,000 on Friday. The shares are scheduled to be issued in 二0 一 九. SII is expected to collect more than VNĐ 六 三 二 billion (more than $ 二 七 million) from the issuance.
The rate of issuance will be 五 八 per cent, which means with every holding of 一00 shares, an investor can buy 五 八 new shares.
After the issues, SII's charter capital is expected to increase from the current VNĐ 六 四 五 billion to more than VNĐ 一 trillion.
All proceeds from the offering will be used for merger and acquisition (M A) activities. Specifically, SII will spend VNĐ 三0 八. 七 billion from the proceeds to buy 三0. 八 七 million shares in Củ Chi Water Supply and Sewerage JSC. It will also spend VNĐ 二 八 六. 四 billion on interest payments for bank loans. — VNS
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