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SBA: Share issuance under private placement
Song Ba Joint Stock Company (SBA) has informed of successfully issuing 5,000,000 shares under private placement to the Central Power Corporation (EVNCPC) as follows:
* Issuer: Song Ba Joint Stock Company
* Stock symbol: SBA
* Head office: 230 Nguyen Tri Phuong, Thanh Khe Dist., Danang
* Tel: (0511) 3653 592 Fax: (0511) 3653 593
* Website: http://www.songba.vn/ Email: sba2007@songba.vn
* Consulting organization: Hung Vuong Securities Corporation (HVS)
* Purchasing institution: Central Power Corporation (EVNCPC)
* Issuing volume: 5,000,000 common shares at par value of VND10,000/share
* Offering price: VND10,000/share
* Total value: VND50,000,000,000
* Purpose of using capital: Adding to finance source for the company operation
* Distribution method: Private placement
* Transference restriction: Shares offered under private placement are restricted to transfer within 1 year from the end date of issuance
* Issuing date: 8th July 2010
* Total volume before issuance: 45,000,000 shares
* Total volume after issuance: 50,000,000 shares
The Central Power Corporation is the shareholder foundation of the Song Ba Joint Stock Company. The additional issuance is done under the commitment of SBA in the prospectus released before the listing time. After the issuance, the holding rate of EVNCPC increases from 22% to 29.8% of chartered capital of SBA. Over the years, EVNCPC has supported SBA to complete construction investment and generation of the Khe Dien Hydropower Plant (9MW) from 2007; basic construction investment and commercial generation of the first turbine group of the Krong H’nang Hydropower project (64MW) on 22nd June 2010. Total electricity output is expected 198 million kWh (2010) and 292 million kWh (2011), equivalent to VND124 billion and VND190 billion in sales.
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