Minh Phu Seafood Corporation plans to sell more than 75.7 million shares in a private deal to raise 3.7 trillion VND (159 million USD) to provide additional capital for production and business activities. (Photo: tinnhanhchungkhoan.vn) Hanoi (VNA) - Minh PhuSeafood Corporation (HoSE: MPC) plans to issue privately 75.72 million sharesto raise 3.7 trillion VND (159.5 million USD) in 2019.
The company will use 45 percentof the funds, or 1.7 trillion VND, to improve its financial capacity. Theremainder will be used to fund production and sales activities.
The share issuance was approvedin late February 2019 by the company's board of directors. The company lastweek gained approval of the State Securities Commission on the deal.
The company will offer shares toboth domestic and international investors that are financially healthy andwilling to accompany the firm in the long term.
The shares will be unavailablefor trading in one year since the issuance date.
At the annual shareholder meetingin January, Minh Phu announced that Japanese, Korean and US investors hadbeen in talks with the company to buy shares.
The expected price is estimatedat more than 48,800 VND (2.07 USD) per share.
The company has 140 millionshares on the Ho Chi Minh Stock Exchange under code MPC.
The company's shares edged up 0.7percent to close at 46,100 VND on April 16.-VNA
The company will use 45 percentof the funds, or 1.7 trillion VND, to improve its financial capacity. Theremainder will be used to fund production and sales activities.
The share issuance was approvedin late February 2019 by the company's board of directors. The company lastweek gained approval of the State Securities Commission on the deal.
The company will offer shares toboth domestic and international investors that are financially healthy andwilling to accompany the firm in the long term.
The shares will be unavailablefor trading in one year since the issuance date.
At the annual shareholder meetingin January, Minh Phu announced that Japanese, Korean and US investors hadbeen in talks with the company to buy shares.
The expected price is estimatedat more than 48,800 VND (2.07 USD) per share.
The company has 140 millionshares on the Ho Chi Minh Stock Exchange under code MPC.
The company's shares edged up 0.7percent to close at 46,100 VND on April 16.-VNA
VNA
