Quang Nam Rubber Investment Joint Stock Company has announced that it will sell more than four million treasury shares to increase its working capital. The rubber developer will sell the shares between March 1 and March 30. The pricing will be decided by HCM Stock Exchange (HOSE) regulations, and VNDirect Securities Company will serve as the trader.
The four million treasury shares make up all of the Quang Nam Rubber Investment JSC’s treasury share holdings. The company bought those shares in November 2015 at an average price of VND8,112 per share.
The company’s shares are traded on HOSE with code VHG. VHG ended yesterday session at VND2,310 per share, down 2.9 per cent from Tuesday’s closing level. The share price has dropped nearly three-quarters since November 2015.