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Trường Thành Furniture plans $44.4 million share issue in Q3

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Trường Thành Furniture Corporation may issue 100 million shares, worth VNĐ1 trillion (US$44.4 million), to raise capital for restructuring its debt and improving production.

Trường Thành Furniture Corporation may issue 100 million shares, worth VNĐ1 trillion (US$44.4 million), to raise capital for restructuring its debt and improving production. — Photo thuonggiaonline.vn

 

The share issue is included in a company proposal that will be discussed at the annual shareholder meeting scheduled on June 26.

The shares will be sold to current shareholders in the third quarter of 2017 and will remain untradeable for one year from the issue date.

The share issue will help increase the firm’s charter capital to nearly VNĐ2.44 trillion.

The company’s management board also plans to propose to shareholders issuing 7.6 million bonus shares with the rate of 5.26 per cent.

In 2017, Trường Thành Furniture Corporation targets VNĐ1.25 trillion in revenues and VNĐ35.5 billion in post-tax profit. The target figures for 2021 are VNĐ2.62 trillion and VNĐ319 billion, respectively.

 

Source: VNS

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