Business Briefs 12 October, 2017

12-Oct-2017 Intellasia | | 3:45 PM Print This Post

* Tay Nguyen Electricity Investment Company (TIC) has announced the merging into Gia Lai Electricity Company (GEG) since October 25. Today is the last trading session of TIC on theHCMCitymarket and the firm will be delisted tomorrow. TIC shares will be converted into GEG shares at a I-for-I ratio.

* Ben Thanh Trading & Service Company (BIT) has decided to sell over 621,000 shares to employees at VND10,000 each in the last quarter of 2017. With the issuance, BIT will raise its total outstanding volume to 13.5 million shares.

* An Phat Plastic and Green Environment Company (AAA) plans to acquire a 15.8 percent stake in An Phat-Yen Bai Mineral & Plastic Company (HII) next year to secure a 51  percent stake in the latter. In April, AAA offloaded 2.2 million shares ofHII to reduce its holding to 51.8 percent to around 35.3%.

* Hai An Transport and Stevedoring Company (HAH) will cooperate withSouth Korea’s Pantos Holding Incorporation to establish Pantos- Hai An consortium for investing in depot projects. The consortium has a chartered capital ofUS$12 million, with 51  percent owned by HAH.

* South Basic Chemicals Company (CSV) will pay a 2017 second round dividend to its shareholders at VND600 per share. The payment will be made on November 27 and the company will close its shareholder list on November 1.

* Kosy Company is seeking approval to float 41.5 million shares on the Hanoi Stock Exchange. Established in 2008 with a chartered capital of VND415 billion, the enterprise is active in property, construction and hydropower sectors. It has developed urban area projects in numerous northern localities.

* Vietnam Industrial Construction Corporation (VVN) has received approval to trade 55 million shares on the market for unlisted public firms, or UPCoM. However, it has yet to announce the specific timing of its listing and the starting price. VVN has a registered capital of VND500 billion, of which the Ministry of Industry and Trade holds an 82.75 percent stake. VVN incurred a consolidated loss ofVND47.4 billion in the first half of this year, while its revenue reached VND1.79 trillion in the period, said Viet Capital Securities Company.

 


Category: Business, Vietnam

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