REE gets approval for issuing corporate bonds 
Intellasia | Dau Tu Chung Khoan - 09/06/2010 10:45:00 SA -
State Securities Commission (SSC) has issued a
certificate that allows Refrigeration Electrical Engineering Joint
Stock Corp (coded REE) to issue convertible corporate bonds for existing
shareholders.
Accordingly, the company will offer 810,418 one-year corporate bonds
with par value of one million dong, coupon rate of 8 percent per year to
the existing shareholders. After maturity date, the bonds will be
transferred into shares with ratio of one bond for 72 shares.
At the same time, in addition to issuing convertible bonds, REE planned
to allocate bonus shares at ratio of 1:1 and to pay 2009 dividend in
shares at 5:1 ratio, in order to increase chartered capital.
The company expects to earn 810 billion dong from this share-issuing
period. The company planned to invest 480 billion dong in three real
estate projects to be conducted in Hanoi by VIID, a joint venture of
SCIC, Lilama and REE Land.
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