Hoa Phat Group plans to raise charter capital to $675.6 millionSteelmaker Hoa Phat Group plans to increase its charter capital to VND15.2 trillion ($675.6 million) this year, double the current level of VND8.42 trillion. Last year, Hoa Phat Group posted record turnover and after-tax profit of 34 trillion VND and 6.6 trillion VND, respectively, since its establishment. It also plans to restructure Hoa Phat Steel Company and Hoa Phat Energy Company. The group will increase its contribution capital at Hoa Phat Steel Company from the current 2.5 trillion VND to 3.5 trillion VND. In addition, it will transfer its 99.89 million shares at the Hoa Phat Energy Company worth a total of 998.9 billion VND to the Hoa Phat Steel Company.

Source: VietNamNet News February 22, 2017 04:07 UTC