Business Brief Sep 30

30-Sep-2015 Intellasia | | 3:17 PM Print This Post

* KIDO Corporation (KDC), formerly Kinh Do Corporation, has announced that it would register with the State Securities Commission of Vietnam (SSC) to buy back 40 million shares as treasury shares, equivalent to 17.01  percent of its total outstanding volume. The share acquisition will be financed by the firm’s capital surplus. The buyback is to carry out a flexible capital strategy in response to business strategy change and increase capital efficiency. The purchase will be conducted between October 12 and November 12 with a price no higher than VND30,000 per share (subject to SSC approval). Kinh Do Corporation sold 80 percent of its snack business to Mondelez International for around $370 million in June and changed its name to KIDO. The enterprise now focuses on producing consumer goods.

* Vimedimmex Medi – Pharma Company (VMD) has announced October 2 as the ex-dividend date to pay a 2014 dividend in cash for shareholders at 20 percent.

* Ben Tre Aquaproduct Import and Export Company has registered to sell its entire stake amounting to 113,700 shares (0.6 percent) of Dong Hai Company of Ben Tre (DHC) within one month starting from September 1.

* Nguyen Huu Vinh, a board member of MHC Company (MHC), has registered to sell 300,000 MHC shares to lower his stake from 2.1  percent to 1  percent over one month starting from September 29.

* Sao Ta Foods Company (FMC) has floated an additional five million shares on the Hochiminh Stock Exchange to revise up its total outstanding volume to 20 million shares. The new shares will be available for trading on October 5.

* Vinafreight Company (VNF) said it would advance a 2015 first round dividend in cash for shareholders at 15 percent on November 10.

* The Blackhorse Emerging Enterprises Master Fund has registered to sell its entire stake totalling 184,700 shares (5.2 percent) of Saigon Hotel Corporation (SGH) over three weeks starting from September 30.

* Song Da No. 10 Company (SDT) has chosen September 30 as the ex-dividend date to pay a 2014 dividend in cash for shareholders at 15 percent.

* Vietnam Airlines had to abort flights VN578 and VN579 betweenHanoiandTaipei(Taiwan) on September 28 due to the impact of Typhoon Dujuan. To assist affected passengers, the national flag carrier will use Boeing 777s for its flights VN576 and VN577 scheduled to depart on September 29 instead of A321s. Besides, the departure time of Flight VN570 fromHCMCitytoTaipeischeduled for 4:50 p.m. on September 28 was delayed until 8:30 a.m. on September 29. Meanwhile, Flight VN571 will leaveTaipeiat 2 p.m. (local time) on September 29 instead of 7:45 a.m. as scheduled earlier. The airline had to cancel its flights between Hanoi/HCM City andKaohsiungon September 28. It will arrange flights for affected passengers on September 29, with the service fromHCMCitytoKaohsiungand the return flight operated by Boeing 777.


Category: Business, Vietnam

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