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ASM: Report on the progress of capital usage
Sao Mai Construction Corporation (HOSE: ASM) has reported the progress of using the capital from the stock issuance in 2011:
I. Information on the issued stock:
- Name of stock: Stock of Sao Mai Construction Corporation
- Stock code: ASM
- Par value: VND10,000/share
- Offering volume: 20,320,000 shares
- Sold volume: 19,911,002 shares
- Total sold value: VND199,110,020,000.
- Finish date: March 14, 2011
II. Plan for capital usage:
- Invest in infrastructure of Sao Mai Bac Residential Area on Highway 91, Chau Phu District, An Giang: VND50 billion
- Invest in infrastructure of Residential Area & Trade Center Project in the East of Tri Ton Town, Tri Ton District, An Giang: VND50 billion
- Invest in infrastructure of Sao Mai High-class Urban Area Project in Tinh Bien Town, Tinh Bien District, An Giang: VND30 billion
- Raise the Corporation’s working capital: VND73.2 billion
III. Report on capital usage:
- Invest in infrastructure of Sao Mai Bac Residential Area on Highway 91, Chau Phu District, An Giang: VND23,170,562,000.
- Including:
+ Compensation for land clearance: VND3,461,552,000.
+ Construction of infrastructure and other expenses: VND19,709,010,000.
- At present, the project is under construction of infrastructure
- Invest in infrastructure of Residential Area & Trade Center Project in the East of Tri Ton Town, Tri Ton District, An Giang: VND23,734,571,000.
- Including:
+ Compensation for land clearance: VND3,851,441,000.
+ Construction of infrastructure and other expenses: VND19,883,130,000.
- At present, the project is under construction of infrastructure
- Invest in infrastructure of Sao Mai High-class Urban Area Project in Tinh Bien Town, Tinh Bien District, An Giang: VND20,718,667,000
- Including:
+ Compensation for land clearance: VND6,648,420,000
+ Construction of infrastructure and other expenses: VND14,070,247,000
- At present, the project has been completed and been in the first stage of selling foundations
- The remaining amount of VND131,486,220,000 from the issuance was used to increase the working capital to expand operations and invest in the project above.
HOSE
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