V.S. INT'L issues new shares at a premium to increase its stake in a Vietnamese subsidiary, involving an amount of 32.13 million
V.S. INT'L (01002.HK) announced that it has exercised the subscription option to purchase a total of 6 million shares of V.S.Vietnam from B&E, with an exercise price of HKD 5.355 per share, for a total consideration of HKD 32.13 million. This will be paid through the issuance of 267 million consideration shares at an issue price of HKD 0.12, which is a premium of 135.29% over today's (30th) closing price.
Upon completion, the company will indirectly own approximately 76.90% of the equity of V.S.Vietnam, whose main business includes plastic injection molding, assembly of electronic products, and mold design and manufacturing
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