Lu Gia Mechanical Electric Joint Stock Co (coded LGC) has lately announced that from May 30 to July 30, 2012, the company’s large shareholder of HCM City Infrastructure Investment Joint Stock Co (coded CII) would purchase 2.9 million LCG-coded shares. If the transactions end successfully, CII’s holdings would be raised from 24.87 percent to 60%.
Previously, CII had sought approval from the shareholders about purchasing additional shares in LGC in the annual general meeting (AGM). At present, the price of LGC-coded share was 17,900 dong per share. In the past two weeks, the LGC shares continuously saw point-gaining in eight consecutive sessions from May 14 to 23.