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CII reduces foreign ownership
The HCM Stock Exchange (HOSE) yesterday announced that foreign ownership in the HCM City Infrastructure Investment Joint Stock Company (CII) would be reduced from 42.68 per cent to 37.83 per cent from May 21.
The decision was made as CII converted its bonds into shares to raise charter capital.
In the first phase, bondholders signed up to convert 783,148 bonds into shares at a price of VND11,000 per share and conversion rate of 1:90.9 (a single share was equal 90.9 bonds).
CII had to issue 71.19 million shares to convert its bonds for bondholders in the first phase.
After the first phase was completed, nearly 300,000 bonds were not converted, worth nearly VND300 billion ($13.9 million). CII will have to issue 27.15 million shares at VND11,000 to convert these bonds.
Last Tuesday, HOSE announced that the deadline for CII bondholders to register in the second phase to convert bonds into shares was June 23.
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