Business Briefs 02 Nov 2018

02-Nov-2018 Intellasia | | 7:24 AM Print This Post

* The Bank for Investment and Development of Vietnam (BID) is seeking shareholder approval to issue over 603.3 million shares in a private placement for South Korea’s KEB Hana Bank. After the issuance, foreign investors will hold a combined 15% stake at the lender. The scheme will be conducted between 2018 and 2019. The new shares will not be tradable within at least five years.

* Mien Dong Group (MDG) has decided to buy 500,000 shares of3-2 Construction and Investment Company (C32), with the buying price capped at VND32,000 per share. In a related development, C32 has announced November 9 as the record date to pay a cash dividend for shareholders at 12%. It will make the payment on November 29.

* Vinacafe Bien Hoa Company (VCF) said its consolidated net profit rose 6.3% year-on-year to VND136 billion in the third quarter of this year. Its revenue inched up 2.6% to VND802 billion in the quarter.

* Transimex Company sold only 278,000 shares ofHai An Transport and Stevedoring Company (HAH) out of the total volume of over 3.5 million. shares registered for sale between September 24 and October 24. The investor now owns over 3.2 million shares at HAH, equal to a 6.7% stake.

* Quynh Phuc Trade and Production Company has registered to buy one million shares of Thu Dau Mot Water Company (TDM) to raise its ownership to over 13 million shares.

* Vicostone Company (VCS) has decided to buy back 3.2 million shares as treasury shares to facilitate its short- and long-term restructuring plans. Transactions will be made from November 7 to December 5, using VCS’s available funds. The VCS share price has slumped over 26% at around VND70,000 over the past month.

* Nguyen Phuc Anh, a major shareholder of PV2 Investment Company (PV2), has offloaded 1. 7 million shares ofPV2 to reduce his ownership from 30.5% to 25.9%.

* Vietnam Construction and Import-Export Corporation (VCG) saw its consolidated net profit dropping 41.8% year-on-year to VND141 billion in the third quarter of this year due to a 56% drop in its financial incomes. Its revenue fell 8.8% to VND2.2 trillion in the quarter.


Category: Business, Vietnam

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