LGC - Developer expects sharp rise in 2008 profits

The Lu Gia Mechanical Electric Company plans to earn a net revenue of 120 billion VND (7.5 million USD) this year, a year-on-year increase of 56.4 percent, resulting in an after-tax profit of 30 billion VND and allowing a dividend payment ratio of 17 percent.

The company plans to raise its chartered capital to 80 billion VND from 30 billion VND by issuing an additional 5 million shares.

The Lu Gia Company will sell 4.5 million of those shares to existing shareholders at a ratio of 1:1.5, 150,000 to its staff and the rest to strategic partners, all at the same price of 15,000 VND per share.

The total capital after issuance will be invested into a Lu Gia apartment-building development project.

VNA

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