Business

Truong Thanh Furniture plans 44.4 million USD share issue in Q3

Truong Thanh Furniture Corporation may issue 100 million shares, worth 1 trillion VND (44.4 million USD), to raise capital for restructuring its debt and improving production.
Truong Thanh Furniture plans 44.4 million USD share issue in Q3 ảnh 1Vietnamese workers make furniture (Photo: thuonggiaonline.vn)
HCM City (VNA) - Truong Thanh FurnitureCorporation may issue 100 million shares, worth 1 trillion VND (44.4 millionUSD), to raise capital for restructuring its debt and improving production.

The share issue is included in a companyproposal that will be discussed at the annual shareholder meeting scheduled onJune 26.

The shares will be sold to current shareholdersin the third quarter of 2017 and will remain untradeable for one year from theissue date.

The share issue will help increase the firm’scharter capital to nearly 2.44 trillion VND.

The company’s management board also plans topropose to shareholders issuing 7.6 million bonus shares with the rate of 5.26percent.

In 2017, the Truong Thanh Furniture Corporationtargets 1.25 trillion VND in revenues and 35.5 billion VND in post-tax profit.The target figures for 2021 are 2.62 trillion VND and 319 billion VND,respectively.-VNA
VNA
#Truong Thanh Corporation #furniture #shares #shareholder meeting #wooden products #timber #third quarter #economy #debt restructuring #Vietnam News #vietnamplus #Vietnam News Agency
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