Friday, August 24, 2007

Hoa Phat to go public in September

24-AUG-2007 Intellasia | Dau Tu Chung Khoan page 5
Aug 24, 2007 - 7:03:00 AM

Hoa Phat Group with a chartered capital of 1.32 trillion dong plans to list 132 million shares via the southern securities transaction floor in September, said Tran Dinh Long, board of directors' chair of Hoa Phat group.

Long added, during the first half of the year, Hoa Phat reached revenue of 2.383 trillion dong and 254 billion dong in after tax profit compared with the year's target of 420 billion dong.

Recently, Hoa Phat finished offering 22 million shares to strategic shareholders and raised its chartered capital from 1.1 trillion dong to 1.3 trillion dong.

The surplus capital of nearly 1.3 trillion dong from the share issue is set aside for investing in ongoing projects such as building offices for rent, new urban zone and cement factories.