Business Briefs 03 Sep 2019

03-Sep-2019 Intellasia | | 10:05 AM Print This Post

* MoneyGram, a global provider of money transfer and payment services, and HDBank signed an agreement on August 28 to provide home remittance delivery services in the country. Customers in urban areas using the service will receive money within three hours if the transaction is done, before 10:30 a.m. Recipients living in suburban and rural areas will also receive money on the same day and those in remote areas in the North will take the money after one day.

* The Hochiminh Stock Exchange has approved the listing of Gia Lai Electricity Company (GEG) with nearly 203.9 million shares. Earlier, major shareholders of the company, Ben Tre Export-Import Company and Thanh Thanh Cong Investment Company, have offloaded 5.12 million shares and 7.7 million shares of GEG to reduce their holdings to 19.27% and 18.12%, respectively. Besides this, Dang Huynh Uc My has offloaded five million GEG shares to cut her owner hip from 6% to 3.5%. GEG share price is around VND27,000 on the market for unlisted public enterprises, or UPCoM.

* HAGL Agrico Company (HNG) ha received approval from the Hochiminh Stock Exchange to float an additional 221.7 million hares on bourse on September 5. The shares earlier were issued to convert its bonds. The additional share listing will help HNG raise the total number of outstanding shares to 1.11 billion. After the issuance, the holding of Hoang Anh Gia Lai JSC (HAG) in HNG decreased to a 49.24% stake. However, HAG affirmed that HNG now is still a subsidiary of HAG and will continue to be consolidated into HAG’s financial statement.

* Japan Asia MB Capital has announced to offload its entire 2.8 million shares of Military Bank (MBB) from September 3 to October 2. The fund bought the shares between January 4 and January 30,2019, during which MBB share price hovered from VND18,500 to D21,800. Its current market price is around VND23,300.

* Budget airline Viet jet (VJC) has completed the purchase of 17.7 million shares as treasury shares out of the registered volume of 25 million shares, with transactions done from July 23 to August 26. The average buying price is around VND132,000.


Category: Business, Vietnam

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