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Home Stocks & Market Stocks & Securities TLH to purchase fund shares

TLH to purchase fund shares

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Tien Len Steel Group Joint Stock Co (coded TLH) has lately released the resolution approved by the management board for purchasing fund shares. Accordingly, the management board has passed for buying additional 800,000 fund shares, raising the total holdings from 4,950,930 to 5,750,930 fund shares after the transaction, or 9.96 percent of the total. The company expected to stabilise the share price in the stock market, using the capital source of stock capital surplus. According to the parent company's audited financial reports in 2010, the capital surplus from issuance in 2009 was posted at about 90 billion dong. TLH planned to spend 5.6 billion dong purchasing the fund shares, starting from December 23, 2011 to March 23, 2012, using the order matching and negotiation methods.

Source: www.intellasia.net/news/articles/stock_market/111350934.shtml


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