Business Brief November 10

10-Nov-2015 Intellasia | | 3:25 PM Print This Post

* Hoang Anh Gia Lai Agricultural Company (HNG) will issue 59 million shares for two strategic investors namely Cuong Thinh Rubber Co., and An Thinh RubberCo.Ltd before December 31. HNG will se1l31.5 million shares to Cuong Thinh and 27.5 million shares to An Thinh at the price of VND28,000 each. HNG expects to collect over VNDl.6 trillion (US$74.1 million) after the share sales. The firm has total chartered capital of VND708 billion with an 86 percent stake held by HAGL Company (HAG).

* Vo Diep Van Than, deputy general director of Truong Thanh Furniture Corporation (TTF), has registered to buy one million TIF shares to raise his ownership to 1.2 million shares between November 10′ and December 9.

* Ba Ria-Vung Tau House Development Company (HDC) obtained net profit ofVND19.3 billion in the first nine months of this year, up 32 times against the same period of 2014. Its revenue dropped 8 percent to VND254 billion in the period. In the third quarter, HDC earned net profit ofVND7.2 billion, a 13-fold ear-on-year increase while its revenue fell 2 percent to VND90 billion, Viet Capital Securities Company reports.

* Fifty-one State-owned enterprises (SOEs) launched initial public offerings (IPOs) at the Hanoi Stock Exchange in January-October. Of them, as many as 33 auctions sawall of the volumes put up for sales snapped up. In ovember, 11 businesses will hold share auctions at the northern exchange, including nine IPOs and one auction to sell State shares.

* Pham Thi Loi, a board member of Wall Street Securities Company (WSS), has registered to sell her entire stake totalling 100,000 WSS shares (0.2 percent) from November 10 to December 4.

* VNECO 9 Investment and Construction Company (VE9) has added 3.7 million shares on the Hanoi Stock Exchange to revise up its total outstanding volume to 11.6 million shares. The new shares will be tradable on November 11.

* Vietnam Debt and Asset Trading Company (DATC) will offload all its stake of nearly 1.7 million shares, or 26 percent, at paper producer Sadico Can Tho Corporation (SDG) over one month starting from November 9.

* DAP-Vinachem Company last Saturday opened a DAP fertiliser plant worth VND5 trillion atTangLoongIndustrial Parkin the northern mountainousprovinceofLao Cai, reports. The facility plans to produce 200,000 tonnes of fertiliser this year and increase the volume to 280,000 tonnes next year. It has more than 700 workers. deputy prime minister Hoang Trung Hai said at the opening ceremony that the new DAP fertiliser plant is the second in the country after one in Hai Phong and that the two would be able to meet two-thirds of annual DAP demand in the country.

* Indo-Trans Logistics Corporation last week started building a logistics centre atHanoi’s Yen Vien station, the first investment in the railway sector with the private sector’s involvement, Thanh Nien reports. The investor said the project covers 20,000 hectares and requires total capital of VND90 billion in phase one. The facility is expected to be complete next June.


Category: Business, Vietnam

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