VB Holdings Limited (VBH) has quoted an additional 178,113 ordinary shares on the South Pacific Stock Exchange Limited (SPSE) yesterday, 5th July 2010 says the chief executive officer of South Pacific Stork Exchange Jinita Prasad.
This was after successfully completing a Rights Issue to the existing shareholders.
“A total of 1,781,134 VBH ordinary shares are now quoted on the SPSE Main Board,” she said.
VBH first listed on the SPSE on 1st November 2001.
The company’s main operations are property investment and vehicle fleet management services.
“VBH has once again used the stock market to successfully raise $480,906.
“The funds raised will be used by the Company to reduce its debt and strengthen its balance sheet,” she said.
VBH’s current market price is $2.99. Its price earnings ratio now stands at 35.25 times.
“The market capitalization of the company has increased from $4.8 million to $5.3 million,” Prasad said.