RIC rises to 15-month high on bonus share plan

A plan to give investors bonus shares shot Royal International Joint Stock Co. (HoSE: RIC) to its highest point in more than 15 months Wednesday.

The shares rose 4.9 percent to VND45,300, the highest since February 25, according to data compiled by Bloomberg.

The company plans to issue more than five million bonus shares to stakeholders, according to a statement filed on the Ho Chi Minh Stock Exchange’s website late Wednesday.

Shareholders will get 10 new shares at no cost for every 100 they hold, the company said in the statement. The new shares will start trading on the exchange on August 17.

thanhnien, Bloomberg

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