Hoa Phat plans to raise charter capital to VND15.2 trillion
Wednesday, February 22,2017AsemconnectVietnam - Steelmaker Hoa Phat Group plans to increase its charter capital to VND15.2 trillion (US$675.6 million) this year, double the current level of VND8.42 trillion.
Last week, the group announced its management board’s resolution to submit to the 2017 shareholder meeting. Accordingly, it targeted turnover and after-tax profit of 38 trillion VND and 5 trillion VND, respectively, for 2017.
Last year, Hoa Phat Group posted record turnover and after-tax profit of 34 trillion VND and 6.6 trillion VND, respectively, since its establishment. These figures presented a year-on-year increase of 34 percent and 89 percent in terms of turnover and profit, respectively.
The group’s management board also approved the offer of a 50 percent dividend for last year’s profit in the first and second quarters of the year.
It plans to issue an additional 250 million shares in the second quarter of the year. The mobilisation capital will be invested into the Hoa Phat Dung Quat iron and steel production complex in central Quang Ngai province and also be used for operations.
It also plans to restructure Hoa Phat Steel Company and Hoa Phat Energy Company. The group will increase its contribution capital at Hoa Phat Steel Company from the current 2.5 trillion VND to 3.5 trillion VND. In addition, it will transfer its 99.89 million shares at the Hoa Phat Energy Company worth a total of 998.9 billion VND to the Hoa Phat Steel Company.
Source: nguoilambao.vn
Businesses concerned about rising exchange rate pressure
Top 500 fastest growing enterprises 2024 announced
Petrovietnam posts 9-billion-USD revenue in Q1
Airlines requested to increase flights during upcoming holiday
Nam Viet Fisheries (ANV) targets 8-fold profit growth in 2024 despite low pangasius prices
Saigonres (SGR) continues to make ambitious plans for 2024
Nam Kim Steel (NKG) plans to increase profits sharply in 2024 and wants to mobilize VND1,579.7 billion from shareholders
BVBank (BVB): Profit target of VND200 billion, increased capital to more than VND6,400 billion, listed on HOSE
Banks record positive business indicators in Q1 2024
Vietjet offers speical promotions on its flights to Australia
OCB estimated to achieve about VND1,200 billion profit in Q1/2024
Cienco 4 (C4G) target 92% increase in profit after tax in 2024
PVTrans (PVT) plans for consolidated profit in 2024 to reach VND760 billion
MSB plans to profit VND6,800 billion and pay 30% dividend
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...