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ITC: BOD resolution on planning stock issuance to raise capital On February 07, 2020, the Board of Directors of Investment and Trading of Real Estate Joint Stock Company approved the stock issuance to raise its charter capital as follows:
- Exercise ratio: 5% (shareholder who owns 100 shares will receive 05 new shares.)
- Expected issue volume: 3,432,316 shares
- Total value (based on par value): VND 34,323,160,000
- Plan to deal with fractional shares: The distributed shares will be rounded down, the fractional shares will be cancelled.
- For example: At the record date, shareholder A owned 585 shares. With 5% performing ratio, the shareholder A will receive: 585 * 5% = 29.25 shares. According to rounding policy, the shareholder A receives 29 new shares. The fractional shares of 0.25 will be cancelled.
- Time of implementation: expected in Q1.2020 or Q2.2020. HOSE
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