The Quang Nam Mineral Industry Joint Stock Company (Minco, Stock Code: MIC) held its 2025 annual shareholder meeting, approving a stock issuance plan to pay dividends for 2024 at 55%. The company plans to issue about 3.05 million shares to increase its charter capital to approximately 86 billion VND. Subsequently, Minco will offer shares at a rate up to 581%, allowing each shareholder with 100 shares to purchase an additional 581 shares. A maximum of 50 million shares will be sold at 10,000 VND/share, potentially raising 500 billion VND. The funds will be invested in joint ventures in the industry to acquire or contribute capital to sand mines with large reserves. The company aims to hold at least 51% of the contributed capital in target companies with a minimum reserve of 5 million tons. In Q1/2025, MIC reported revenue of 36.7 billion VND, down 32% year-on-year, while aiming for nearly 219 billion VND in revenue for 2025.
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