State Bank of Vietnam (SBV) yesterday signed to approve Cement Finance Joint Stock Co (CFC) to increase its charter capital from VND300bn to VND610bn through issuing 30 million shares to the existing shareholders (at ratio 1:1) and another one million shares to employees.
The issue time is within Q2 of 2010. This year the finance company plans to raise capital to one trillion dong by end Q4 and mobilise capital by offering shares to the public, domestic and foreign strategic investors.
In 12 months from getting license, CFC must finish the capital increase. CFC now has a charter capital of VND300bn with big shareholders namely Vietnam Cement Corp 30 per cent, Vietnam Steel Corp 10.5 percent, Vietcombank 11 percent, and International Transport and Trading Joint Stock Co-ITC 20 percent.