Confectionery Kinh Do Corporation (KDC) still wants to buy backanother 55.5 million shares to complete its plan of re-acquiring almost77 million shares in the company.
This was revealed in a KDC document sent to shareholders on June 11 ahead of its annual shareholders' meeting.
In December, 2014, KDC approved a buy-back of 77 million shares,equivalent to 30 percent of its total issued shares. So far, it haspurchased nearly 21.5 million shares.
The company plans to buy another 55.5 million shares. The offering price will not exceed 50,000 VND (2.29 USD) a share.
KDC's shares have risen again for the past month, closing at 43,800VND(2 USD) a share on the Hochiminh Stock Exchange on June 12.
The purchase would be funded from the company's capital surplus (3.274trillion VND, or 150.2 million USD), undistributed profits (1.084trillion VND, or 49.7 million USD), development fund and other fundsunder its equity capital (41.28 billion VND, or 1.9 million USD).
The confectionery reported total net sales of almost 5 trillion VND(229.4 million USD) by the end of 2014 and the pre-tax profit of 600billion (27.5 million USD). Its net profit reached 537 billion VND (24.6million USD).
Ending 2014, its total assets reached 7.875 trillion VND (361.2 million USD).
This year, KDC has targeted lower revenues of just 3 trillion VND(137.6 million USD) but its pre-tax profit is set at 6.5 trillion VND(298.2 million USD). This figure includes the profit from the sale of 80percent of stakes in its snack business Binh Duong Kinh Do Corp toUS-based confectionery giant Mondelez International Corp.-VNA
This was revealed in a KDC document sent to shareholders on June 11 ahead of its annual shareholders' meeting.
In December, 2014, KDC approved a buy-back of 77 million shares,equivalent to 30 percent of its total issued shares. So far, it haspurchased nearly 21.5 million shares.
The company plans to buy another 55.5 million shares. The offering price will not exceed 50,000 VND (2.29 USD) a share.
KDC's shares have risen again for the past month, closing at 43,800VND(2 USD) a share on the Hochiminh Stock Exchange on June 12.
The purchase would be funded from the company's capital surplus (3.274trillion VND, or 150.2 million USD), undistributed profits (1.084trillion VND, or 49.7 million USD), development fund and other fundsunder its equity capital (41.28 billion VND, or 1.9 million USD).
The confectionery reported total net sales of almost 5 trillion VND(229.4 million USD) by the end of 2014 and the pre-tax profit of 600billion (27.5 million USD). Its net profit reached 537 billion VND (24.6million USD).
Ending 2014, its total assets reached 7.875 trillion VND (361.2 million USD).
This year, KDC has targeted lower revenues of just 3 trillion VND(137.6 million USD) but its pre-tax profit is set at 6.5 trillion VND(298.2 million USD). This figure includes the profit from the sale of 80percent of stakes in its snack business Binh Duong Kinh Do Corp toUS-based confectionery giant Mondelez International Corp.-VNA
