AsemconnectVietnam - The Board of Directors of Southern Basic Chemicals Joint Stock Company (CSV - HOSE) has just approved the implementation of a stock issuance plan to increase share capital from owner's equity.

Accordingly, the Company plans to issue 66.3 million bonus shares to existing shareholders at the rate of 150%, meaning shareholders owning 1 share will have 1 right, for every 100 rights they will receive 150 new shares. The number of decimal shares (if any) will be canceled.
The purpose of issuing shares is to increase share capital from equity sources to improve the Company's financial capacity and operational scale.
Issuance of capital from surplus capital and other fund values belonging to equity is determined as of December 31, 2023 based on the 2023 separate financial statements that have been audited by more than VND9.5 billion and VND11.95 billion, respectively, with a development investment fund value of more than VND651 billion.
Implementation time is after being notified by the SSC to receive full release report documents, expected to be implemented in the second quarter of 2024. After issuing shares, the Company's charter capital will increase from VND442 billion to VND1,105 billion.
This year, the Company sets a conservative business plan with consolidated revenue reaching VND1,640 billion and consolidated pre-tax profit reaching VND261 billion (excluding dividends from subsidiaries of VND15 billion), increasing respectively. 3% and 13% compared to 2023 results.
Recently, the Company has just announced its consolidated financial report for the first quarter of 2024, with revenue reaching VND351.3 billion, down 10.3% over the same period last year; Profit before and after tax reached VND62.3 billion and more than VND49.7 billion, respectively, down more than 30% and 29.89% over the same period.
Thus, at the end of 3 months, Southern Basic Chemicals has completed 21.42% of the revenue target and 23.86% of the year's profit target.
N.Nga
Source: VITIC/Tinnhanhchungkhoan