HAI to offer 117m shares at VND10,000 per share

HAI Agrochem Joint Stock Company (HAI) plans to organise an unsual shareholders meeting to issue 117 million shares at a low price of VND10,000 per share.

HAI will issue these shares after the company completes raising capital from its equity.

The company will issue 117 million shares at a ratio of 1:1 or a ratio that is determined by the shareholders to make sure the number of issued shares does not exceed 117 million.

The shares will be issued in two phases. In the first phase, HAI will offer 67 million shares to the company's shareholders at a likely ratio of 7:4.

In the second phase, 50 million shares could be issued at a predicted ratio of 11:3.

After the issuance, HAI's chartered capital is expected to jump from VND1.32 trillion (US$61.4 million) to VND2.34 trillion ($108.6 million).

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