Business Briefs May 22, 2017

22-May-2017 Intellasia | | 3:28 PM Print This Post

* Southeast Asia Commercial Bank, or SeABank, has announced a resolution of the 2017 annual general meeting approving a plan to raise

its chartered capital to a maximum VND8.9 trillion. Shareholders also approved the bank’s listing on the stock market in 2017 or 2018. This year,  SeABank will continue procedures to establish Southeast Asia Fund Management Co Ltd Besides, it is going to launch a consumer finance company in the near future.

*TanTaoUniversityhas bought over 6.2 million shares of Tan Tao Investment and Industry Corporation (ITA) to raise its holding to 39.2 million shares, or a 4.18 percent stake. Tan Tao Group is now the biggest shareholder at ITA with a 14.72 percent stake, or over l38 million shares.

* Quoc Cuong Gia Lai Company CQCG) made a consolidated net profit ofVND2.4 billion in the first quarter of this year, up 59.4 percent over the same period last year. Its revenue jumped 3.2 fold to VND268.8 billion in the quarter. The firm’s short-term debts dropped 2.78 percent from the end of 2016 to VND4.0 1 trillion at the end of March, said Viet Capital Securities Company.

* One institutional investor and 21 individual ones have registered to buy nearly 8.4 million shares ofVietnamgeneral Agricultural Materials Corporation (Vigecam) at an auction at the Hanoi Stock Exchange today. Vigecam will offer 6.35 million shares, or a 28.87 percent stake, at the starting price of VNDI0,100 each. After going public, the enterprise will have a chartered capital ofVND220 billion.

* TNG Trade and Investment Company (TNG) will issue over 6.8 million shares to pay a 2016 dividend for shareholders in the second quarter of this year. In the first quarter, TNG saw its revenue rising 12 percent year-on-year to VND402 billion while its net profit was over VND 14 billion, equivalent to last year’s result. The enterprise fulfilled 18 percent and 12 percent of 2017′s revenue and net profit goals respectively.

* Quang Ninh Construction & Cement Company (QNC) will float an additional 6.7 million shares on theHanoimarket on May 22, raising the total outstanding volume to 25.1 million shares.

* Hung Hau Development Joint Stock Company has registered to sell over 1.3 million shares of Safoco Foodstuff Company (SAP), or a 17.5 percent stake in the enterprise.


Category: Business, Vietnam

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