Vinamilk plans $470m share issuance

Dairy giant Vinamilk (VNM) will issue a maximum of 167 million shares to raise charter capital from VND8.34 trillion (US$395.3 million) to VND10 trillion ($474 million).

The rate is 20 per cent, or each holding of five shares will be given one additional share. The deadline for shareholders to register to participate in this issue is August 15.

Last year, the company paid shareholders a high cash dividend rate of 48 per cent. It has set an ambitious target of cash dividends of no lower than 50 per cent this year.

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