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VinaLand pays US$43M to shareholders in buyback offer

VinaLand Ltd. completed its undersubscribed US$60 million share buyback offer.

About US$43 million in cash, or roughly 71.59% of the total offered amount, will be paid to shareholders on or around Oct. 13. The shares were offered at 83 cents apiece.

The company will purchase and cancel a total of 51,752,732 ordinary shares, bringing the total voting rights in the company to 188,484,888.

The undersubscription will boost the net asset value per ordinary share by approximately 32 cents after the buyback and cancellation are completed, which will be reflected in the company's NAV as at Dec. 31.