The Hanoi-based company, known for its electric cable brand Cadivi, will issue nearly 293 million shares to existing shareholders early next year at a rate of six new shares for every 10 held.

Wind turbines in the central province of Binh Dinh.

The issue will be priced at VND12,000, nearly 50 percent lower than the closing price on Wednesday.

The company said it hopes to raise VND3.5 trillion from the issuance, of which it plans to spend two-thirds on building several wind power plants in the central province of Quang Tri and a mixed-use commercial building in Hanoi in 2023.

The rest of the money will be used on bolster working capital.

Gelex forecasts pre-tax profits to fall by 10 percent this year to VND975 billion.

Nội Bài airport’s upgraded runway ready for operation

The upgrade of runway 1B at Nội Bài International Airport in Hà Nội will be put into operation by midnight on December 31 to meet the peak travel demand for the Tết (Lunar New Year) holiday.

Vietnam reveals final ASEAN Para Games disciplines

Host nation Vietnam announced the final list of 11 disciplines for the 11th ASEAN Para Games, dropping three previously reported events.

Source: VnExpress