VCSC Daily - Stocks rebound sharply - CII, MWG, NVL, PVI, VJC, DHG, GAS, GTN, STB
CII: Cancellation of rights issue approved by BOD. CII’s BOD has approved the cancellation of the 2:1 rights issue to existing shareholders at VND10,000/share, subject to shareholder approval at CII’s AGM on April 24, 2018. This is in line with our expectations, as we assume CII will finance its project pipeline with debt. CII is still in negotiations with financial institutions to issue straight bonds of VND1.3tn (USD57.3mn). To date, it has issued 23% of this target, or VND300bn (USD13.2mn).