CII: CII transfers LGC shares and converts bonds for MPTC

1)    On September 01, 2016, Hochiminh City Infrastructure Investment Joint Stock Company (CII) successfully transferred 1,904,000 shares of CII Bridges and Roads Investment Joint Stock Company (LGC). After the transfer, CII owns 123,872,953 LGC shares, or 64.23%.

2)    On the same day, CII received the notice of bond conversion from Metro Pacific Tollways Corporation (MPTC), with total value of 528,725 million dongs, converted to 29,373,612 LGC shares on September 15, 2016.

3)    Therefore, after September 15, 2016, CII will decrease the ownership ratio in CII Bridges and Roads Investment Joint Stock Company (LGC) to 49%. Therefore, all 424-billion-dong profit from the bond conversion by MPTC will be directly recorded into the income statement. And, ESP of CII will increase in Quarter 3.2016.

With the bond conversion above, CII’s debt balance will decrease by 528,725 million dongs. Therefore, the debt to equity ratio will be significantly improved from late Quarter 3.2016. 

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