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Nha Rong Insurance Joint Stock Co (Bao Long) has lately announced to issue additional 17.28 million shares with the purpose of increasing chartered capital from 167.2 billion dong to 340 billion dong. Nha Rong Insurance Joint Stock Co (Bao Long) has lately announced to issue additional 17.28 million shares with the purpose of increasing chartered capital from 167.2 billion dong to 340 billion dong.

Accordingly, the company will offer 16.72 million shares to existing shareholders at a ratio of 1:1 at share price of 10,000 dong per share. The registration deadline for closing the shareholders list has been fixed on February 3. The shareholders can transfer buying warrants within the period from February 4 to March 5 and register for purchasing shares and deposit from February 4 to March 12. The remaining 560,000 shares will be offered to the company's employees with price of 10,000 dong per share.

The company planned to increase chartered capital with the purposes of meeting the state's regulations of minimum chartered capital for non-life insurers of 300 billion dong, improving the financial capacity, and developing the company's business network and financial investment activities.

The company's head office is located at No 185 Dien Bien Phu St, Da Kao Ward, Dist 1, HCM City.

Source: http://www.intellasia.net/news/articles/stock_market/111286008.shtml