HA NOI — The Cable and Telecommunications Materials Co (Sacom) will issue an additional 17 million shares in a move to finance the company’s business diversification strategy.
Sacom said it would pour capital into a joint venture to produce cable and into construction of a five-star resort and high-rise office buildings, as well as contribute capital to the Cambodia-based PCP Telecom Co and Taihan-Sacom Co.
Shares at a face value of VND10,000 each would be offered to existing shareholders at VND20,000 while it expected the shares to fetch at least VND150,000 when sold to strategic investors.
Sacom has attained a growth rate of more than 84 per cent in the past two years. With profits of nearly VND204 billion (US$12.75 million) last year, the company has paid an average dividend of 16 per cent during this period.
With charter capital of VND374 billion ($23.4 million), Sacom holds stakes in such companies as the Sai Gon Cable Joint Stock Co, the Sam Thinh Packing Co, the Sam Cuong Telecom and Electronic Materials Co, and the Sam Phu Plastics Co.
According to Sacom statistics, 75 per cent of the company’s products are bought up by the Viet Nam Post and Telecommunications Group (VNPT). The company was expanding its market, however, by providing products to five other telecommunications enterprises in both domestic and regional markets.
Sacom shares traded last Friday at VND183,000, down a per cent from the previous session, at the HCM City Securities Trading Centre. — VNS
No comments:
Post a Comment