Business Briefs 06 July 2018

06-Jul-2018 Intellasia | | 11:17 AM Print This Post

* The State Securities Commission has given its approval to Hau Giang Pharmaceutical Company (DHG) to remove its foreign ownership limit (FOL). Following this, the company has lodged a request with the Vietnam Securities Depository to update its FOL. According to Viet Capital Securities Company, this move could be a share price catalyst for DHG, given the possibility of strategic investor Taisho further consolidating its ownership in the firm. Recently, Taisho purchased an additional 650,000 DHG shares

via put-through to raise its ownership to 24.94%.

* Century Synthetic Fiber Corporation (STK) estimated its net profit atVND43 billion on revenue ofVND591 billion in the second quarter of2018, up by 79 percent and 26%, respectively, year-on-year.

* Saigon Real Estate Joint Stock Company (SGR) will make a dividend payment for 2017 at a ratio of 25 percent on the record date of July 20. The firm will spend VND39.5 billion of the amount to pay a dividend ofVNDl,OOO per share and issue 5.93 million additional shares for a share dividend at a ratio of 15%. The firm expects a net profit ofVND216 billion in 2018, up by 44 percent from last year. SGR expects to hike its 2018 investment by 5.8 times to VND2.39 trillion and targets a dividend payment at a ratio of25 percent for this year.

* Nam Viet Company (ANY) has announced plans to sell its entire stake of 90.91 percent in Bien Dong Seafood Company. The holding is valued at more than VND5.3 billion.

* Dong Nai Plastic Company (DNP) will issue 6.5 million shares to make a dividend payment at a 12.997-for-l00 ratio for 2017. The firm will also issue 21.5 million shares to its existing shareholders as a bonus at a 42.992- for-l00 ratio and a selling price ofVND 10,000 each. After the issuance of shares, the firm expects to raise its registered capital to VND780 billion from the current VND500 billion.

* Le Hai Doan, chair of HIPT Group Company (HI G), has acquired nearly 730,000 HIG shares to raise his ownership to more than four million shares, e uivalent to a 20.94 percent stake. HIG shares are trading at some VND7,000 each on the market for unlisted public enterprises, or UPCoM.



Category: Business, Vietnam

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