REE: The foreign room adjusted to 39 percent
Refrigeration Electrical Engineering Corporation (REE) and a foreign partner signed a Convertible Bond Sale Agreement with a total estimated value of VND557,846,000,000. At the conversion time, REE will have to issue new common shares to the convertible-bond holder. Based on the conversion price and total issue value of convertible bonds, the number of new shares is estimated at 25,356,615 shares or 9.39% (rounded to 10%) of total REE shares after conversion.
Because the investor of this bond issue is a foreign investor, REE on November 23 asked the Hochiminh Stock Exchange and the Vietnam Securities Depository to approve to decrease the foreign room of REE stock from 49% to 39% so that REE can convert all convertible bonds into shares. As at November 22, 2012, the foreign room of REE stock was 49%.
Because the investor of this bond issue is a foreign investor, REE on November 23 asked the Hochiminh Stock Exchange and the Vietnam Securities Depository to approve to decrease the foreign room of REE stock from 49% to 39% so that REE can convert all convertible bonds into shares.
As at November 22, 2012, the foreign room of REE stock was 49%.
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