Vietnamese workers make furniture (Photo:
HCM City (VNA) - 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.

The share issue is included in a company proposal that will be discussed at the annual shareholder meeting scheduled on June 26.

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

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

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

In 2017, the Truong Thanh Furniture Corporation targets 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