Vinamilk to issue more shares
16:25' 25/04/2006 (GMT+7)

VietNamNet - Vietnam’s leading dairy producer, Vinamilk, announced it will issue more shares to mobilise capital for production expansion.

This was agreed at the company’s shareholders’ congress yesterday. Vinamilk will issue shares worth VND 1.59 trillion, equivalent to 10% of the company’s charter capital.

Both Vinamilk’s current shareholders and new investors are eligible for buying these shares. Half of the new shares, 7,950,000 shares, are reserved for current shareholders. The remainder are for new investors.

Current shareholders will buy the share at VND 10,000 per share while new investors will buy shares according to market prices.

The new share issuance is scheduled to be carried out in the second or third quarter of this year.

From 2006 to 2011, Vinamilk will also issue shares for its employees, with a maximum of 1% of the company’s total shares a year.

Last year, Vinamilk’s total revenue reached over VND 5.6 trillion, up 50% against the previous year.

The company targets to earn VND 6.3 trillion this year, up 11% against 2005.

(Source: ND)

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