Business Briefs 07 December, 2017

07-Dec-2017 Intellasia | | 3:05 PM Print This Post

* The State Capital Investment Corporation will auction over 2.4 million shares of Lam Dong Pharmaceutical Company (LDP), or a 31.8 percent stake, at the starting price ofVND42,600 each. The government’s investment arm will hold the bidding on December 13, raising at least VND106.3 billion. Earlier, guyen Kim Investment and Development Joint Stock Company offered to buy 2.1 million shares ofLDP at no higher than VND32,OOO each.

* Industrial Rubber Company sold nearly three million shares to six individual investors at its initial public offering yesterday. The average win- ning price was around VND12,600 per share versus the highest and lowest level at VND14,100 and VND12,500 respectively.

* Vietnam Electrical Equipment Company (GEX) plans to buy an additional 2.9 million shares of Vietnam Electric Cable Corporation (CAV) within nearly one month starting December 7 to raise its holding to 79.76 percent from the current 74.73 percent. Previously, GEX bought a 74.73 percent stake or 2.9 million shares of CAV via put-through transaction on November 28.

* Pan Farm Joint Stock Company has registered to buy nearly 11.9 million shares of Sao Ta Food Company (FMC), or a 30 percent stake in the enter- prize, at VND23,000 each. Pan Farm expects to spend VND273 billion on the purchase.

* Vietnam Construction and Import-Export Joint Stock Corporation (VCG) obtained proceeds ofVND 1.02 trillion from selling 25.5 million shares, or a 51  percent stake it held in Vinaconex Water Supply JSC (VCW) on December 1. According to Viet Capital Securities Company, VCG sold the shares to twg investors at a winning price ofVND39,904 each, without naming the buyers. Earlier, Ecology Investment and Development JSC, a 98.8 percent held by Vingroup (VIe) and Refrigeration Electrical Engineering Corporation (REE), registered to buy a combined 37.5 million shares in VCW, 1.5-fold higher than the shares on offer. Before the auction, Ecology Investment and Development JSC held a 43.6 percent stake in VCW.

* Huu ghi Garment Company (HNI) will float over 9.4 million shares on the market for unlisted public enterprises, or UPCoM, on December 12 at the reference price of VND43, 100 each. The enterprise is running four factories inHCMCity, Dong Thap and Long An provinces.


Category: Business, Vietnam

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