Technology group FPT plans to hike its chartered capital to more than VND2.1 trillion after issuing almost an additional 20 million shares.
The shares will replace stocks from existing shareholders of its three affiliates- the FPT Trading Group (FTG), FPT Software Joint Stock Company (FPT Software) and FPT Information System Joint Stock Company (FIS).
Through the stock swapping, FPT will control 100 per cent of these affiliates’ total chartered capital. Currently, FPT owns 92.26 per cent of FIS’ chartered capital, 66.07 per cent of FPT Software’s and 91.79 per cent of FPT Trading’s. The rate of swapping will be based on appraising FPT share values and that of these three affiliates.
Accordingly, the swapping rate between FPT and FIS stocks is set at 1:1.22, between FPT and FPT Software stocks 1:1 and between FPT and FTG stocks 1:0.91. The capital restructuring plan will be part of the agenda at the forthcoming FPT’s annual general meeting of shareholders in April 15, 2011.