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Jardine C&C ups stake in Truong Hai Auto
2009-1224
Singapore's Jardine Cycle & Carriage Limited announced on Wednesday that it has subscribed for new shares, representing a 5.8 per cent stake, in the enlarged share capital of Truong Hai Auto Corporation (THACO).
The shares were bought at the placement price of VND93,000 per share, or a total of US$29 million.
THACO is principally involved in the manufacture, assembly, distribution, retail, repair and maintenance of commercial and passenger vehicles in Vietnam.
The subscription has increased Jardine C&C's shareholding in THACO to 29.20 per cent.
The subscription was funded from existing financial resources, and is not expected to have a material impact on the group's net tangible assets and earnings per share for the year ending Dec 31, 2009.
The shares were bought at the placement price of VND93,000 per share, or a total of US$29 million.
THACO is principally involved in the manufacture, assembly, distribution, retail, repair and maintenance of commercial and passenger vehicles in Vietnam.
The subscription has increased Jardine C&C's shareholding in THACO to 29.20 per cent.
The subscription was funded from existing financial resources, and is not expected to have a material impact on the group's net tangible assets and earnings per share for the year ending Dec 31, 2009.
Source: VNBusinessNews
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