Business Briefs 07 Jun 2019

07-Jun-2019 Intellasia | | 8:35 AM Print This Post

* Long Giang Group has registered to buy seven million shares of Long Giang love trnent & Urban Development Company (LGL) within one month starting June 6 to increase its holding in LGL to 24.6%, or 12.3 million shares, from the current 10.6%. After the transaction, Long Giang Group will become the largest shareholder of LGL, followed by chairman Le Ha Giang, who holds a 21.4% stake, or 10.7 million shares.

* Thanh Thanh Cong – Bien Hoa Sugar Company (SBT) plans to offer over 44.46 million preferential shares via a private placement, with the selling price ranging from VND30,000 to VND45,000 per share. SBT will apply a fixed dividend of 5.5% in the first one year and a half. The shares can be converted into common shares at a price not higher than VND38,000 each.

* The management of Hau Giang Pharmaceutical Company (DHG) has proposed raising the total 2018 cash dividend from 03,000 to VND3,500 per share. DHG has already advanced VND3,000 and the remaining cash dividend of VND500 would be paid after the June 11 general meeting.

* Media group Yeah 1 (YEG) plans to buy back two million of its own shares to reduce its total outstanding volume and restructure its capital sources. Transactions are expected to take place from June 18 to July 17. Earlier, YEG announced a share buyback to prevent its share price slump but failed to carry out the plan.

* Vietnam Dairy Products Company (VNM) has acquired over 90 million shares of GTN Foods Company (GTN), thus spurring its holding to over 95.85 million shares, equal to a 38.3% stake. Earlier, VNM intended to acquire 116.7 million GTN shares at VND13.000 each to secure a 49% stake in the enterprise.

* VNDirect Securities Company (VND) will close its shareholder list on June 14 to pay a cash dividend at VND500 per share. The stock brokerage will spend over VND104 billion on the payment given its outstanding volume of 208. million shares. The ex-dividend date is June 14 and the payment date is June 25.


Category: Business, Vietnam

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