Business Briefs 02 Oct 2018

02-Oct-2018 Intellasia | | 8:59 AM Print This Post

* Vietlet Aviation Company (VJC) will seek shareholder approval to issue convertible bonds as well as a maximum 28 million new common shares to facilitate future conversion. It will conduct the bond issuance plan in the fourth quarter of 20 18. The five-year notes will carry a coupon of below 4% per annum. The enterprise will use the proceeds to fund business development and boost its air transport. According to Viet Capital Securities Company, VJC’s maiden convertible bond issuance will result in equity dilution of 5.2%.

* Hai Phat lrIvestrnent Company (HPX) will hand over The Vesta housing project and parts ofPhu Luong projects this year, aiming to earn a net profit ofVND280 billion in the fourth quarter of2018. HPX will issue shares between now and November to give bonus and dividend payment to raise its registered capital to VND2 trillion from the current VND 1.5 trillion. In 2019, HPX aims to earn a net profit ofVND720 billion on revenue ofVND4 trillion, while acquiring some low-rise projects in northern cities and provinces.

* FECON Corporation (FCN) will pay a dividend at a combined ratio of 10% for 2017 on the record date of October 2. Of the amount, FCN will spend VND45 billion paying a dividend ofVND500 per share and pay a share dividend at another 5%. The firm will make the payment on October 18. Earlier, FeN has registered to sell 10.66 million shares of Fecon Mining Company (FCM) from September 19 to October 18.

* Pomina Steel Company (POM)will close its shareholder list on October 9 to issue nearly 55.9 million shares to pay a dividend for shareholders, thus raising its chartered capital to over VND2.4 trillion.

* AMECC Mechanical Construction Company (AMS) has decided to issue 13.3 million shares via a private placement for domestic and foreign partrJers operating in the mechanics and construction sectors. The selling price is VND 10,000, higher than its current market price of around VND8, 100. The firm expects to raise VND133 billion from the issuance to supplement its working capital. purchase equipment and invest in trading subsidiaries. After the issuance AMS will spur its chartered capital from VND200 billion to VND333 billion.


Category: Business, Vietnam

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