Biwase investors purchase 6.6 million remaining shares

Biwase (Binh Duong Water - Environment Corporation) has approved a list of 12 investors to purchase more than 6.6 million remaining shares following a rights offering to existing shareholders. The shares are being offered at 37,000 VND per share.

Nguyen Ngoc Toan is the most significant buyer, set to acquire 6 million shares for approximately 222 billion VND, which will grant him a 2.39% stake in the company. Other participants include Chairman Nguyen Van Thien, who will increase his ownership to 4.72%, as well as several deputy general directors and the chief accountant.

The original rights offering aimed to issue 31.4 million shares, with existing shareholders successfully purchasing nearly 24.8 million shares, accounting for roughly 79% of the offering. If the entire issuance is completed, Biwase's charter capital is expected to rise from over 2,199 billion VND to approximately 2,513 billion VND.