Pyn Elite Fund divests capital in HCM City Infrastructure Investment

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