Casumina to raise capital to over VNĐ1 trillion

Southern Rubber Industry JSC, or Casumina (CSM), planned to issue 29.6 million bonus shares to increase its charter capital.

Casumina planned to issue 29.6 million bonus shares to increase its charter capital.- Photo cafef.vn

The shares worth VND10,000 (US$0.43) each will be issued to shareholders. After the issuance, HCM City-based Casumina would have another VND296 billion in charter capital, which will rise in value to over VND1 trillion.

The firm's largest shareholder, Viet Nam National Chemical Group (Vinachem), which now owns over 51 per cent of stakes, will have another 15.1 million shares. At the current VND32,700, Vinachem will get nearly VND500 billion.

Established in 1976, CSM is now among the leading producers of rubber tyre products in Viet Nam. It earns 63 per cent of revenue from local trading and 25 per cent from exporting for the regional and international market.

Source VNS