Nam Kim Steel (NKG) prepares to offer 131.6 million shares

On September 26, 2024, Nam Kim Steel Corporation (Code: NKG) approved the documents to offer shares to existing shareholders at a rate of 50%. Equivalently, each shareholder owning 2 shares will have the right to buy 1 additional issued share.

The new share issuance price is VND 12,000/share, nearly half lower than the current market price of NKG code. The expected time of offering shares is in the 3rd or 4th quarter of 2024 after being approved by the State Securities Commission.

Nam Kim Steel (NKG) plans to offer an additional 131.6 million shares to raise money to invest in the Nam Kim Phu My Steel Roofing Sheet Factory. (Photo TL)

It is expected that 131.6 million NKG shares will be issued this time, helping Nam Kim Steel raise about 1,579.7 billion VND. This amount will be used by NKG to contribute capital to Nam Kim Phu My Steel Company Limited, investing in Nam Kim Phu My Steel Sheet Factory in the coming year 2025.

Regarding business activities, after a long period of gloom following the general trend of the steel industry, NKG has made significant recovery steps.

Revenue in the first 6 months of the year was recorded at VND10,951.6 billion, up 10.9% over the same period. Profit after tax reached VND369.7 billion, nearly 4 times higher than the same period last year. Thanks to this result, Nam Kim Steel has exceeded the set target by 9%.

Source: https://www.congluan.vn/nganh-thep-hoi-phuc-thep-nam-kim-nkg-chuan-bi-chao-ban-1316-trieu-co-phieu-post314196.html