Moc Chau Milk pays 10% dividend before going to UPCoM

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On October 15, 2020, Moc Chau Milk’s Board of Directors approved the registration of stock depository at the Vietnam Securities Depository (VSD) and registration to trade shares of the company on UPCoM trading floor by the Department. Hanoi Securities Trading (HNX) management.

The Board of Directors of Moc Chau Milk said that the transaction time is expected to be no later than March 30, 2021 after completing the procedures with HNX and VSD. SSI Securities Joint Stock Company was appointed as a consulting organization on depository and registration for stock trading of Moc Chau Milk.

It is known that in mid-July, Moc Chau Milk’s shareholder meeting has approved the plan to deposit and list all the company’s shares on the City Stock Exchange. Ho Chi Minh City (HoSE) and expected to be implemented within 9 months from that time.

Not except the possibility of listing shares on UPCoM is just a stepping stone for Moc Chau Milk to bring shares to HoSE.

In addition, Moc Chau Milk also informed about the advance of 10% cash dividend to existing shareholders. The date of closing the list of shareholders (the last registration date) is October 30, 2020. The expected date of dividend payment is December 15, 2020.

Previously, Moc Chau Milk announced to offer shares to strategic investors, GTNFoods Joint Stock Company (HoSE: GTN) and Vietnam Dairy Products Joint Stock Company (Vinamilk, HoSE: VNM).

In early August 2020, Moc Chau Milk announced that the number of shares offered to GTNFoods was 29.45 million units, and the number offered to Vinamilk was 9.7 million units. The announced offering price is 30,000 VND / share.

In addition, at the beginning of July, Moc Chau Milk also announced to issue 3.34 million shares to existing shareholders at a price of 20,000 VND / share and issue 668,000 shares under the program of selecting for employees. (ESOP) at the price of 10,000 VND / share.

The proceeds from this capital mobilization will be spent 1,600 billion VND to invest in new 4,000-head dairy farm projects combined with eco-tourism, to upgrade the existing dairy farm to 2,000 and invest in liquid milk production lines and new factories.

Source: vietnamfinance.vn – Translated by fintel.vn