Business Briefs 02 Oct 2019

02-Oct-2019 Intellasia | | 8:04 AM Print This Post

* Bamboo Airways, a subsidiary of real estate developer FLC Group (FLC), is planning to launch an initial public offering in 2020 to raise funds for its expansion. It is expected to raise about US$100 million for Bamboo Airways to expand its fleet as part of its broader plan to secure a 30% market share next year. Currently, the airline holds a 10% share in Vietnam’s aviation market.

* Huynh Bich Ngoc, a member of the board of directors at Thanh Thanh Cong-Bien Hoa JSC (SBT), will buy 33.5 million shares to increase her stake in the company to 8.4% from 2.65%. Transactions will be carried out between now and October 16. Ngoc is the wife of the firm’s chairman Dang Van Thanh.

* SSI Securities Corporation (SSI) has received two Asiamoney Best Southeast Asia Securities House Awards – Best Securities House in Vietnam and Best Corporate & Investment Bank – from Asiamoney, a leading finance and investment magazine in Asia Pacific. For the third time the company has won “Best Securities House in Vietnam”.

* FPT Corporation (FPT) booked revenue of VND17 trillion and pre-tax profit of nearly VND3 trillion in the January-August period of this year, up 21 % and 28% year-on-year, respectively. The company’s technology segment recorded growth o’ 43.4%, becoming the main growth driver of the firm during the period.

* Generali Vietnam Life Insurance Company has launched a new product called “Vita-Song Thinh Vuong” (Vita-Live Prosperously), a 2-in-l insurance solution that offers both an investment solution and protection. It helps customers optimize profitability when the four investment-linked funds are managed by VinaCaptial and VietFund Management.

* KIDO Foods (KDF) plans to buy back three million shares, equivalent to 5.36% of the firm’s total outstanding shares. The purchase, funded by undistributed after-tax profits and other capital, aims to stabilize KDF’s share price on the market. The company will buy the shares at market price but not higher than VND40,000 per share, meaning the maximum spending for the purchase will be some VND120 billion.


Category: Business, Vietnam

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