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PAN: BOD approves the plan for VFG shares public offer The Board resolution dated August 31, 2020, the Board of Directors of The PAN Group Joint Stock Company approved the plan on public tender to purchase shares of Viet Nam Fumigation Joint Stock Company (VFG). Details are as follows:
1) Name of target stock: Viet Nam Fumigation Joint Stock Company
2) Securities code: VFG
3) Number of VFG shares before trading: 13,239,061 shares, equivalent to 41.26% of total outstanding shares of VFG)
4) Number of VFG shares expected to be bought: 4,813,780 shares (equivalent to 15% of total outstanding shares of VFG)
5) Number of VFG shares after trading: 18,052,841 shares (equivalent to 56.25% of total outstanding shares of VFG)
6) Expected price purchase: the offering price is not lower than the average reference price of VFG shares that announced by the Hochiminh Stock Exchange (HOSE) within 60 days immediately prior to the date of submission of the subscription form.
7) Purpose of the offering: to raise the ownership ratio and long-term investment.
8) Time of implementation: from 30 days to 60 days after being approved by the State Securities Commission of Vietnam (SSC).
9) Offering agent: Sai Gon Securities Incorporation (SSI). HOSE
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