August 11, 2011

Vietnam's MPC subsidiary raises capital to US$29 million

Minh Phu-Hau Giang Seafood Processing Co., a subsidiary of Vietnam's top shrimp exporter Minh Phu Seafood Corporation (MPC), raised its registered capital from VND500 billion (US$24 million) to VND600 billion (US$29 million).

Following the hike, MPC raised its holding in Minh Phu-Hau Giang to from 97% to 97.5% stake, MPC said in a statement sent to the Hochiminh Stock Exchange.

Minh Phu-Hau Giang is building a shrimp plant with an annual production capacity of 40,000 tonnes in the southern province of Hau Giang.

At end-June, MPC had total assets of VND3.18 trillion (US$153 million).