Business Briefs 03 Oct 2018

03-Oct-2018 Intellasia | | 7:57 AM Print This Post

* TNG Investment and Trading JSC (TNG) has approved a plan to issue VND200 billion worth of unsecured convertible bonds in a private placement. The three-year notes will have a face value of VND 1 billion each and be converted into shares at VND13,800 per share. TNG plans to use the proceeds to supplement its working capital, expand its business and invest in equipment purchase. Asam Vietnam Co., Ltd, a fund management company specializing in managing capital for South Korean investors, has signed a cooperation agreement with TNG to spend VND200 billion buying the TNG bonds.

* Thai Duong Petrol Company (TDG) will issue 3.87 million shares for dividend payment on the record date of October 5. Of the amount, TDG will issue 1.29 million shares for paying the 2016 dividend at the 1-for-l0 ratio and 2.58 million shares for paying the 2017 dividend at the 1- for-5 ratio. Currently, TDG has 12.9 million outstanding shares. After the issuance, the firm expects to raise its registered capital to VND167.7 billion.

* Thien Long Group Corporation (TLq) will seek shareholder approval between October and November to issue five million shares via private placement. The selling price is not lower than VND50,OOO per share, or 33% lower than the current market price. The new shares have a lock-up period of one year from the issuance date. TLG will use the proceeds to fund working capital and future investment.

* Taisho has registered to buy three million shares of Hau Giang Pharmaceutical Company (DHG), equivalent to a 2.3% stake, from October 2-31. If successful, Taisho will raise its holding to 34.3%.

* Pomina Steel Corporation (POM) made a consolidated net profit of VND372.7 billion on revenue of VND6.6 trillion in the first half of this year, up 41 % and 30% year-on-year, respectively. POM has announced to issue 55.89 million shares to pay a share dividend at a 3-for-l0 ratio for 2017 on the record date of October 9. Currentlv, POM has 186.3 million outstanding shares.

* Vinacomin has offered to buy over 3.4 million shares of Ha Tu-Vinacomin Coal Company (THT), or a 14% stake, at VND6,700 each, thereby

raising its ownership to 65%.


Category: Business, Vietnam

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