September 20, 2024 will be the last registration date for Tan Cang Song Than ICD Joint Stock Company (stock code: IST) to issue shares to increase share capital.
According to the latest announcement from the Board of Directors of Tan Cang Song Than ICD Joint Stock Company (Tan Cang Song Than), this enterprise will issue about 3 million shares with a total value of about 30 billion VND to increase its share capital.
The issuance capital will be taken from the development investment fund identified as of December 31, 2023 according to the audited consolidated financial statements.
The issuer will be existing shareholders on the last registration date (September 20). The number of shares issued/number of shares in circulation is 24.98%. Accordingly, the exercise ratio is 100:24.98. That is, each shareholder owning 1 IST share will have 1 right to receive additional shares, for every 100 rights to receive additional shares, approximately 24.98 new shares will be added. These shares will not be subject to transfer restrictions.
The number of additional shares issued to each shareholder will be rounded down to the nearest whole number. The odd number of shares and decimals (if any) will be cancelled and will not be reissued.
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| The largest shareholder of Tan Cang Song Than ICD is Saigon Newport Corporation (owns 51% of shares). |
The Company's largest shareholder is Saigon Newport Corporation (Parent company, owning 51% of shares). The Company's main business lines are warehouse and yard services and other accompanying services such as loading, unloading, lifting, transportation, etc.
Regarding business activities, the audited semi-annual report of Tan Cang Song Than ICD in 2024 shows that revenue from providing services brought in 218.5 billion VND, an increase of only about 2 billion VND compared to the same period last year. However, net profit from business activities in the first half of 2024 reached 43.5 billion VND. Meanwhile, in the same period last year it only reached 29.8 billion VND.
After deducting expenses, Tan Cang Song Than's after-tax profit in the first 6 months of 2024 was 34.8 billion VND, an increase of about 48% over the same period.
The company's cash and cash equivalents from the beginning to the end of the period also increased from 48.6 billion VND to 84.2 billion VND. Of which, cash is only about 180 million, bank deposits are 34.1 billion VND, the remaining 50 billion are cash equivalents such as: bank deposits with an initial maturity of no more than 3 months and interest rates from 2.1%/year to 2.5%.
The enterprise that is investing long-term in affiliated companies is Tan Cang Binh Duong Logistics Joint Stock Company. As of June 30, 2024 and December 31, 2023, the Company owns 1,080,000 shares, equivalent to 36% of Tan Cang Binh Duong's charter capital. The enterprise operates mainly in the field of transportation and warehousing.
Next is Maruzen Unithai Logistics Vietnam Joint Stock Company, currently Tan Cang Song Than owns 48,000 shares, equivalent to 20% of the charter capital of this enterprise. The main fields of operation of the enterprise are transportation services, customs brokerage services, warehousing and storage of goods.
In addition, Tan Cang Song Than also authorized the parent company (Tan Cang Saigon) to invest shares in the Military Commercial Joint Stock Bank ( MBBank ). After equitization, the value of this investment was re-determined to be about 6.5 billion VND. As of June 30, 2024, the number of MBBank shares that the Company entrusted to invest was 1.3 million shares.
Continuing to consider the short-term receivables, the total amount that Tan Cang Song Than has to collect is 57.9 billion VND. Of which, the largest receivable is from Kimberly - Clark Vietnam Co., Ltd. (22.6 billion VND). Global Logistics Development and Trade Investment Joint Stock Company, Gokce & Ayca Logistics Co., Ltd., Kasee Vietnam Import-Export Co., Ltd. are three enterprises on the bad debt list of Tan Cang Song Than.
Source: https://baodautu.vn/tan-cang-song-than-chot-ngay-phat-hanh-co-phieu-de-tang-von-d224553.html
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