ELCOM Announces Public Equity Offering

ELCOM Announces Public Equity Offering

On August 19, 2010, Electronics Communications Technology Investment Development Joint Stock Company (ELCOM) has secured approval to launch a public share offering in a Certificate for Share Offering No. 646/UBCK-GCN issued by the State Securities Commission on 19 August 2010.

Total volume of shares to be offered: 7,175,000 shares, of which

·         Number of shares offered to existing shareholders: 6,637,500 shares

·         Number of shares offered to the employees: 537,500 shares

Expected proceeds:  VND 71,750,000,000 (Seventy one billion, seven hundred and fifty million Vietnamese dong)

Purpose of capital raising:  To increase the owners’ equity and obtain financing required to implement large contracts that are soon to signed with mobile network customers.

Offering prices:  

• Price for existing shareholders : VND 10,000 VND per share  
• Price for the Company’s employees:  VND 10,000 VND per share   

For further details, please see the “Prospectus” available here.