Kinh Do bakes up more shares

The State Securities Commission has approved Kinh Do Company’s plan to issue 11 million shares to the public in order to increase the charter capital to 470 billion VND.

Under the terms of the approval, the company will sell two million shares to strategic partners and staff, and the remaining shares to the largest investors.

With the projected 170 billion mobilised by the move, the company will set up another Kinh Do factory in the southern province of Binh Duong. In the first nine months of this year, Kinh Do earned 170 billion VND of profit, representing 70 percent of the year’s target.

VNA

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