Business Briefs 07 Sep 2018

07-Sep-2018 Intellasia | | 8:58 AM Print This Post

* Phuong Nam Cultural Company (PNC) has received approval from its shareholders to divest its remaining 7.5% stake in CJ CGVVietnam, a subsidiary of South Korean CJ Group, within this year. The firm plans to sell the assets at a price ofVNDlOl billion, up nearly 9-fold from the initial investment ofVND 11.5 billion 13 years ago, said Viet Capital Securities Company. PNC will use the proceeds to settle its debts, supplement its working capital, and for interim dividend payment for 2018. Earlier in June, the firm sold a 12.5% stake of CJ CGV Vietnam to Black Diamond Investment Joint Stock Company for VND150 billion.

* Budget airline VietjetAir (VIC) is seeking shareholder approval to authorize the board of directors to approve a convertible bond issuance plan as well as a plan to increase charter capital when the bonds are converted.

The ex-dividend date is set for September 19 for eligible shareholders to approve the plan.

* Gemadept Corporation (GMD) has announced to pay a cash dividend for 2017 at 15% or VND1,500 per share. The ex-dividend date will be September 17 and the payment date will be September 28.

* MB Capital has offloaded 12.8 million shares of Vietnam Electrical Equipment Corporation (GEX), cutting its ownership at GEX from 5.3% to 2.2%.

* CMC Technology Company (CMG) has announced September 17 as the ex-dividend date for shareholders to receive dividend in cash and shares at 8% and 7%, respectively. CMG will issue an additional 4.7 million shares for the share dividend payment.

* PetroVietnam Transport Corporation, a major shareholder of Cuu Long Petroleum Transport Service Company (PCT), has registered to sell its entire stake of over 5.2 million shares in the enterprise, or 22.6%. Transactions will be made from now to September 28 via put-through.

* Gelex Ener Compan ha bou ht er 1.27 million hare of Song Da Clean Water Investment Company (VCW), thus spurring its stake to 60.4%, equivalent to 45.3 million shares. The investor earlier registered to buy two million VCW shares but failed to buy the volume as desired.


Category: Business, Vietnam

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