CTD: Coteccons co-operates with Kusto Group

On March 23, 2012, Cotec Construction Joint Stock Company (Coteccons) received Official Document No.900/UBCK-QLPH from the State Securities Commission announcing that the State Securities Commission received enough documents of private placement.

Coteccons will issue 10,430,000 CTD shares (24.7% of charter capital) to Kusto Group at VND50,000/share (higher than the current market price). Total value of the transaction will be more than VND525 billion (equivalent to US$25 million). The proceeds will be used to restructure, merge and expand the Company’s operations.

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