HCMC – Song Da No. 11 JSC (SJE) said it will issue more than 18 million shares at a price nearly 40% lower than the market price to raise capital for debt repayment and investment.
The company will offer the shares at VND13,000 each, compared to the June 26 closing price of VND21,600, at a 4:3 ratio, meaning shareholders can buy three new shares for every four held. The company set June 30 as the record date.
SJE expects to raise VND235.64 billion from the issue. Of this, nearly VND91 billion will be used to repay a loan at BIDV. The remaining VND145 billion will go to acquiring shares in Phuc Long Hydropower JSC from An Xuan Energy JSC.
After the issuance, the company’s charter capital will rise from VND242 billion to around VND423 billion.
The benchmark VN-Index of the Hochiminh Stock Exchange closed lower on Thursday as market liquidity declined and investor sentiment remained cautious.
The VN-Index edged down 1.08 points, or 0.08%, to 1,365.67 points, with 141 winners and 155 losers.
Trading volume reached nearly 764.8 million shares worth VND19.17 trillion, down 10% in volume and 11% in value over the previous session. Block deals accounted for 79 million shares valued at VND2.64 trillion.
MSN rose 2.4% to VND72,000, leading gains among bluechips with 8.61 million shares traded. MBB and GAS each gained just over 1%. SHB and HPG posted marginal gains but took the lead by liquidity with 42.8 million and 38.3 million shares matched, respectively.
VHM dropped more than 2.4%, while other large caps such as VCB, TPB, HDB, VNM and MWG slipped less than 1%.
On the Hanoi Stock Exchange, the HNX-Index moved sideways with an increase of 0.02%, up 0.04 point to 227.7 points. There were 52 advancers and 100 decliners on the northern bourse, with trading volume totaling 79.7 million shares worth VND1.33 trillion.
