BAF Vietnam Agriculture Joint Stock Company (Code: BAF) has just announced documents to solicit shareholders' opinions on the plan to offer 65 million individual shares to professional securities investors.
Accordingly, the offering price of newly issued shares is VND 15,500/share, 31% lower than the market price at the trading session on October 9, 2024.
BAF Agriculture issues 65 million shares, raising more than 1,000 billion to expand the scale of commercial pig herds (Photo TL)
The expected amount of VND 1,007.5 billion will be allocated with VND 557.5 billion to buy feed, additives, and raw materials for pig farms and VND 450 billion to buy breeding pigs. The implementation period of the issuance and disbursement plan is from Q4/2024 to Q4/2025.
If the issuance plan is successful, BAF Agriculture is expected to increase the total number of BAF shares on the market from 239 million to 304 million shares.
According to BAF, the increase in charter capital will help the company achieve its goal of increasing the number of commercial pigs sold to 1.5 million in 2025 and 10 million in 2030. At the same time, the total sow herd will reach 400,000 in 2030.
Regarding business activities, in the first half of 2024, BAF Vietnam Agriculture recorded net revenue of VND 2,613.2 billion, up 8.6% over the same period. Profit after tax reached VND 154.6 billion, up more than 11 times. Gross profit margin improved from 6.5% to 10.9%.
Compared with the 2024 business target, revenue of VND 5,544 billion, profit after tax of VND 305.9 billion, BAF has completed half of the plan.
Source: https://www.congluan.vn/nong-nghiep-baf-chao-ban-65-trieu-co-phieu-huy-dong-1000-ty-dong-post315949.html
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