Business Briefs 08 March 2019

08-Mar-2019 Intellasia | | 9:32 AM Print This Post

* Hoa Sen Group (HSG) is seeking approval from shareholders to raise VND500 billion to VND1 trillion by issuing rights to existing shareholders or through a private placement for strategic investors. HSG has just closed 10 branches, beside the 21 units shut down in January, to restructure the company. Besides, the steel firm has also announced to pay a 10% share dividend for 2018. The ex-dividend date is expected in April while the payment will not be later than June.

* Vingroup (VIC) on March 4 debuted VinTech Korea in South Korea to carry out research on artificial intelligence, robotics, and smart manufacturing plants, and to develop products and solutions for vehicles and transportation, said vietstock.vn.

* ReCollection Pte Ltd is no longer a major shareholder of Gemadept Corporation (GMD) as it has offloaded 4.5 million GMD shares to reduce its stake from 6.1 % to nearly 4.6%.

* Hanoi Battery Company (PHN) has received approval from the Hanoi Stock Exchange to launch 7.25 million shares on March 13 at the reference price of VND 14,200. The firm’s market value is estimated at VND103 billion. As of September 2018, the Hong Kong based battery manufacturer GP Batteries International Limited was the largest shareholder of PHN with a 30% stake in the latter, followed by Vietnam National Chemical Group (Vinachem) with 21 % and PHN’s chairman Pham Van Nghia with 5.02%.

* Thanh Hoa Province’s government expects to earn around VND133 billion from an auction of over 11 million shares of Thanh Hoa Water Supply Company (THN). The bidding will take place on April 3 with the initial price not lower than VND12,000.

* IB Securities Company (VIX) has raised VND200 billion from selling 2,000 bonds to Mirae Asset Vietnam Securities Company via a private placement The three-year debt comes with a fixed annual coupon of 10.5% in the first year. The brokerage will use the proceeds to increase its capital and improve its services.

 


Category: Business, Vietnam

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