07
Jun
15:05
Hoa Phat prepares for share issuance
Vietnam’s Hoa Phat Group plans to complete a share issuance to raise VND 5 trillion ($221 million), mainly for its Dung Quat steelworks project. The 4 million tonnes/year steelworks is due to be commissioned in late 2019, Kallanish notes.
Over 250 million shares are due to be sold at VND 20,000 each over 27 June to 17 July. Although part of the money raised will go to working capital, most will go into the VND 40 trillion Dung Quat project. The plant will …
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Very good overview of the weekly steel market.
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