RDP to issue 5.66m bonus shares

Rang Dong Plastic JSC plans to issue nearly 5.66 million bonus shares due to its 2017 performance at the ratio of 20 per cent.

This means each shareholder will receive 20 new shares for every 100 shares they own, with the share issuance worth nearly VND56.6 billion (US$2.5 million).

The company is listing more than 28 million shares on the HCM Stock Exchange under code RDP. Its shares soared 6.7 per cent to close Wednesday at VND14,300 ($0.63) per share.

The company recorded VND1.32 trillion of net income in 2017, a yearly increase of 12 per cent.

RDP reported losses of VND55 billion from its business activities last year due to sharp increases in sales and corporate governance costs.

However, the company’s financial statement reported its undistributed post-tax profit for 2017 reached VND69 billion as RDP sold a part of its ownership in a subsidiary.

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