On October 12, 2020, An Phat Holdings (Ticker symbol: APH) successfully held the Extraordinary General Shareholders’ Meeting approving the plan to issue separate bonds and adjust the number of expected bonds issued, at the same time approved the issuance of 6.8 million common shares to convert preferential shares at the ratio of 1:1. The conversion price is equal to the issue price of VND 25,000 per share, corresponding to the total converted value of VND 170 billion.
Previously, at the end of January 2018, the Board of Directors of An Phat Holdings approved to issue of more than 14.1 million preferential shares, no voting rights and could be converted into common shares to Valuesystem Dae Gwang Global Mezzanine Investment (Korean investment fund), in which KB Securities is the entrustor. The purpose of the issuance of more than 14.1 million preferential shares is to invest in subsidiaries such as An Phat Bioplastics JSC (Ticker symbol: AAA), and An Vinh Packaging JSC (Ticker symbol: VBC).
In July, when APH was officially listed on the Ho Chi Minh City Stock Exchange (HoSE), KB Securities decided to convert a part of its holding preferential shares (6.8 million shares) to common stock. The number of converted shares is in the charter capital VND 1423.7 billion of APH, therefore, it does not change the ownership ratio of the remaining shareholders.
Also at the Extraordinary General Shareholders’ Meeting held on October 12, APH also approved to adjust the number of bonds offered for sale, bringing the total expected value to VND 1,200 billion, issuing directly to investors or through the release agent.
Issuance time is expected in 2020 and 2021. The offering is less than 100 investors excluding professional securities investors and/or only offers to professional securities investors.
