HCM City-listed Vinpearl Tourism and Trading Company (VPL) announced it would issue an additional 80 million shares to raise the company's charter capital to VND1.8 trillion (US$94.2 million) in the second quarter of this year.
Of the 80 million shares, 13 million will be used to pay dividends at a ratio of 100:13. The company will offer another 67 million to the existing shareholders at a ratio of 100:67 priced at VND10,000 ($0.52) each.
Shares from the new issue would be tradeable, the company said.
The company has also said it plans to use VND800 billion ($42 million) of capital raised through the share issue to fund its property development activities, particularly its Royal City, Green City, Vinpearland ecological tourism resort complex and a hotel project in the Van Lang Park project the Vinpearland ecological tourism resort.
In 2009, it earned a total revenue of more than VND485.8 billion ($25.4 million) with an after-tax profit of VND61.7 billion ($3.2 million). Its earnings per share came in at VND550 ($0.03).
VPL yesterday closed unchanged at VND42,600 ($2.23) on a volume of 149,750 shares traded.