Coteccons Construction JSC (Coteccons) plans to issue 16.37 million bonus shares at an issuance ratio of 3:1 for shareholders to increase its equity. That means each shareholder will receive one new share for every three shares that they own. The total value of the bonus shares is in the region of VND2.6 trillion (US$115.5 million).
Funding for the issuance will be deducted from the company's share premium, which was more than VND1.38 trillion at the end of last year.
Coteccons will finalise the list of shareholders to receive the new shares on October 18. The company's employees have recently received VND530 billion worth of 2.4 million shares from the employee stock ownership plan.
The company's shares, listed as CTD on the HCM Stock Exchange, yesterday jumped 3.9 per cent to close at VND269,700 after the plan was published.