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CTD: BoD approves share issue to raise capital from the owner’s equity On September 14, 2016, Coteccons Construction Joint Stock Company has announced the BoD approves share issue to raise capital from the owner’s equity & pivate placement for strategic shareholders as follows:
1) Stock issuance for capital increase from the owner’s equity:
- Stock name: Coteccons Construction Joint Stock Company
- Stock type: common share
- Stock code: CTD
- Par value: 10,000 dongs/share
- Charter capital: VND491,970,700,000
- Planning of shares issue: stock issuance for existing shareholders to raise capital from the owner’s equity
- Exercise ratio: 3:1 (Shareholders who own 03 shares at the record date, Shareholders will receive 01 new share)
- Plan to deal with fractional shares: The number of additional shares issue will be rounded down. The fractional shares will be cancelled.
- For example, if shareholder A owns 686 shares at the record date, he will receive 228 new shares. The fractional part (0.67 share) will be cancelled.
- Estimated issue volume: 16,376,805 shares
- Total value of issue on par value: VND163,768,050,000
- Transfer condition: additional share issue from the owner’s equity will be freely transferable
- Estimated issue time: Q3 or Q4/2016
2) Private placement for strategic shareholders:
- Stock name: Coteccons Construction Joint Stock Company
- Stock type: common share
- Stock code: CTD
- Par value: 10,000 dongs/share
- Charter capital: VND491,970,700,000
- Number of shares expected to be issued: 14,430,000 shares
- Total value of issue on par value: VND144,300,000,000
- Object issuance: 3 – 6 investors in the country and abroad that they be able to match the growth of the company.
- Offering price: no lower than 15,200 dongs/share.
+ The average price (from August 16 to September 13, 2016): 238,650dongs/share
+ Adjusted price (exercise ratio 3:1) 178,988dongs/share
+ Minimum price (rounded): 152,000dongs/share
- Restriction on transfer: one day from the date of finished offering.
- Estimated issue time: Q3 or Q4/2016 HOSE
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