Business Briefs 07 Aug 2019

07-Aug-2019 Intellasia | | 8:28 AM Print This Post

* Real estate developer SonKirn Land Corporation has raised US$121 million from a consortium of investors led by EXS Capital, ACA Investments and Credit Suisse AG’s Singapore branch, Vietnamplus website reported. It mobilized US$37 million in 2013 and US$46 million in 2016. In the latest fundraising round, SonKim Land wants to continue developing properties in Vietnam, including luxury residential, commercial and hospitality developments in HCMC.

* The Vietnam Electricity Group (EVN) will divest all its capital from the EVN Finance Company (EVF) by auctioning 18.75 million’EVF shares, equal to 7.5% of EVF’s charter capital, on August 23. With the initial price of VND13,480, EVN expects to earn more than VND252 billion from the deal. ABBank is now the biggest shareholder of EVF with an 8.4% stake.

* Phat Dat Real Estate Development Company (PDR) plans to issue VND225 billion worth of inconvertible secured bonds, which will come with a one-year term and an expected coupon of9.5% a year. Interest will be paid every three months PDR expects to issue the debt in the third quarter for less than 100 investors, excluding professional securities investors. This is the company’s sixth bond sale this year, with the lowest interest rate in the issuing periods.

* An Phat Bioplastics Company (AAA) saw its second quarter revenue growing nearly 5% year-on-year to VND2.43 trillion. The company’s revenue growth was attributed to higher incomes from leasing land and selling assets while the cost of selling goods was cut in the second quarter.

* Sacombank (STB) is carrying out a July 22-October 19 promotion program for individual customers who make deposits, use banking services, receive remittances, and access e-banking services. Clients will receive codes to enter a lucky draw at the end of the program, which offers a Toyota car, and trips to the United States, Europe and Southeast Asia.

* Vu Dinh Do, chairman of Dong Nai Plastic Company (DNP), has acquired 500,000 DNP shares to spur his ownership to over 10.5 million shares, equal to 10.56%.

 


Category: Business, Vietnam

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