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The company will seek shareholders’ approval to issue nearly 500 million shares to them at a ratio of seven shares for every 10 they own at a price to be decided.
Most of the money raised will be used for funding eight property projects proposed to be developed including resorts, apartments and a golf course.
FLC shares closed at VND9,790 ($0.42) on Wednesday on the Ho Chi Minh Stock Exchange, 50 percent up since Mar. 1.
FLC targets a 35 percent increase in post-tax profits this year to VND416 billion.
It fell 56 percent to VND308 billion last year.
