Hiệp Phước IP to raise capital to $44.4 million

HÀ NỘI — Hiệp Phước Industrial Park Joint Stock Company (HPI) plans to sell shares to existing shareholders to raise its charter capital to VNĐ1 trillion (US$44.4 million) from the current level of VNĐ600 billion.

The company will issue an additional 40 million shares at value of VNĐ10,000 per share to current shareholders to receive VNĐ400 billion in cash.

Each shareholder is eligible to buy two shares for every three shares that they own. The issuance was approved at the company’s shareholder meeting in April.

Hiệp Phước Industrial Park JSC was founded in June 2007 as a project managed by Tân Thuận Industrial Promotion Company Limited.

The company has the sixth largest industrial parks in Việt Nam.

The company’s 60 million shares debuted on the Unlisted Public Company Market (UPCoM) in early October, having declined by 28.5 per cent to end Wednesday at VNĐ16,000 per share.

In the first half of 2017, the company posted its profit of VNĐ38.2 billion, six times last year’s figure. — LV