Business Briefs 09 July 2018

09-Jul-2018 Intellasia | | 1:36 PM Print This Post

* Taisho has announced a bid to purchase up to 9.2 million shares of Hau Giang Pharmaceutical Company (DHG), equivalent to a 7.06 percent stake, at a price ofVND120,000 per share, as DHG’s foreign ownership limit was removed on Wednesday. If successful, this will raise Taisho’s ownership in DHG from the current 24.94 percent to 32%. The purchase is expected to be conducted within 30 to 60 days from the date of approval of the State Securities Commission.

* Khang An Investment Real Estate Company (KAC) has received approval of its shareholders to issue 36 million new shares to spur its registered capital to VND600 billion from the current VND240 billion within the second half of this year. Of the amount, the firm will issue six million shares for bonus giving at a I-for-4 ratio and another 30 million shares for its existing shareholders at a I-for-I ratio at the selling price ofVNDlO,OOO each. The firm expects to invest the proceeds of VND300 billion from the

share sales in its project in Dong Nai Province. From June 6, the Hochiminh Stock Exchange had put the stock of KAC under special surveillance due to its violations of information disclosure rules.

* DRH Holdings Company (DRH) will issue 2.2 million shares under an employee stock ownership plan at the selling price ofVND I 0,000 per share by the third quarter of this year. DRH will also issue 9.8 million shares for bonus-giving at a 2-for-l0 ratio. In the first quarter of this year, DRH earned a consolidated net profit ofVND12.2 billion on revenue ofVND14 billion, down by 7.8 percent and 1.8 percent year-on-year, respectively.

* Sao Ta Foods Company (FMC) reported that its revenue rose by 25 percent year-on-year to USS76.6 million in the first half of this year. FMC processed 7,787 tonnes of shrimp during this period, marking an 18.7 percent increase. * Lilama Corporation has announced plans to offload its entire eight million shares, or a 53.84 percent stake, in Song Vang Hydropower Company (S”H), from now until the end of this year. Earlier, PetroVietnam Power Corporation too had sold its entire 4.7 million shares of the hydropower firm. The SVH share price is trading at some VNDlO,OOO each.


Category: Business, Vietnam

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