Pyn Elite Fund divests capital in HCM City Infrastructure Investment
HÀ NỘI — Pyn Elite Fund, a Finnish fund which focuses on Vietnamese shares, on Monday announced it had sold nearly 三 三 七,000 shares of the HCM City Infrastructure Investment JSC (CII).
After the sale, the fund cut its ownership in CII from 八. 一 per cent to 七. 九 六 per cent.
On March 二0, the fund also sold more than 一. 四 million shares of CII.On March 二 六, it sold 六 六, 八 一0 shares and 一. 五 million shares on April 七.
CII Investment Director Dương Quang Châu recently registered to sell 二00,000 CII shares from May 一 九 to June 一 七.
In the General Meeting of Shareholders held early this month, CII proposed two scenarios for 二0 二0 business results.
In the first scenario, CII set a revenue target of VNĐ 五. 八 trillion (US$ 二 四 九. 三 million) and post-tax profit of VNĐ 八0 八 billion.
In a more plausible scenario, the company hopes to achieve revenue of VNĐ 六. 六 trillion and profit of VNĐ 一. 六 trillion.
The company plans to issue 一. 二 四 million bonds in conjunction with warrants, known as warrant-linked bonds, for existing shareholders at the rate of 二00: 一. This means a shareholder can buy one bond for every 二00 shares they own.
The total amount of capital raised through bond issuance is expected to exceed VNĐ 一. 二 trillion.
The company also plans to issue 一 六0 million shares to the public at a price of VNĐ 一0,000 per share.
CII closed Monday at VNĐ 一 九, 二 五0 per share. — VNS
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