VietCredit does not offer all 21 million shares

Tin Viet Finance Joint Stock Company (VietCredit - UPCoM: TIN) has just announced information on the continued distribution of shares due to existing shareholders not exercising their purchase rights or not fully exercising their purchase rights in the additional public offering of shares in 2024.

Accordingly, the company's Board of Directors approved the results of the public offering of shares to existing shareholders with a total quantity of 21 million shares, par value of VND 10,000/share, to increase charter capital from VND 701.4 billion to VND 911.8 billion.

However, the number of shares that existing shareholders have paid to buy is only nearly 4.8 million shares. The remaining 16.2 million shares are not fully offered for sale because existing shareholders do not exercise their purchase rights or do not fully exercise their purchase rights.

TIN stock price in the last 3 months.

According to VietCredit, the number of shares not sold will continue to be distributed/offered to other investors at the offering price of VND10,000/share. All shares will be restricted from transfer within 1 year from the end date of the offering.

The registration and payment period starts from August 26 to August 30, 2024. On the market, at the end of the session on August 28, TIN shares remained at VND 10,800/share.

Regarding business situation, at the end of the first 6 months of 2024, VietCredit recorded a 23% decrease in net interest income compared to the same period to nearly 374 billion VND.

The company's net profit from services decreased by 87% to VND7 billion. At the same time, the company recorded a loss of VND12 billion from trading investment securities while this amount did not arise in the same period.

All main business segments decreased while operating costs and credit risk provisioning costs remained high, causing VietCredit to lose more than VND185 billion, an increase of more than VND73 billion compared to the same period last year.

Source: https://www.nguoiduatin.vn/vietcredit-khong-chao-ban-het-21-trieu-co-phieu-204240828155840698.htm