Kinh Bac City Corporation (KBC), the firm developing the well publicised Trump-branded resort in northern Vietnam, has raised more than VND 4,100 billion (about US$157.7 million) through the sale of 174.1 million shares to nine professional investors on June 25, VN Express has reported→view source.
Key details:
- Total shares issued: 174.1 million (66 percent of the planned amount)
- Unsold shares: Nearly 76 million shares cancelled
- Raised capital: VND 4,100 billion or US$157.7 million
- Notable non-participants: Dragon Capital, Prudential Vietnam
- Use of funds: To support ongoing projects, including the Trump International Hung Yen complex
- Dividend policy: No dividends this year; focus on reinvestment
See also: Could A Trump Tower Really Break Ground in Vietnam Next Year?