Business Briefs 10 January 2020

10-Jan-2020 Intellasia | | 9:38 AM Print This Post

* Becamex Infrastructure Development Company (IJC) has cancelled its plan to issue VND300 billion worth of secured inconvertible bonds in a private placement to supplement its working capital, In December 2019, IJC announced its four-year debt issue with a face value of VND100 million each, which was expected to carry a fixed coupon of 11 % per year for the first year and a floating rate equivalent to the 12-month dong savings rate of TPBank plus four percentage points per year for the remaining years.

* Orient Commercial Bank is seeking approval from shareholders to sell an 11 % stake, equivalent to 86,86 million shares, to Japan’s Aozora Bank via private placement. The shares issued to Aoroza Bank will not be transferable in three years.

* Vietnam Airlines (VNA) plans to operate nearly 600 flights from January 9 to February 2 this year on the occasion of the traditional Lunar New Year holiday (Tet), a year-on-year increase of l2%. The national flag carrier’s additional flights will focus on popular routes including Hanoi-HCMC, HCMC-Danang, HCMC-Vinh and Hanoi-Phu Quoc.

* KB Securities Vietnam Company has launched the online trading version KB-able, a new trading channel integrating advanced features to bring optimal benefits to investors. Based on technology 4.0, KB-able will be one of the technological experience chains that KBSV brings to investors this year.

* Saigon-Hanoi Commercial Bank (SHB) has gained approval to sell 552.2 million shares to existing shareholders. The share issue will help the bank increase its charter capital by VND5.53 trillion to VND15.57 trillion as approved at its annual shareholder meeting in early 2019. Of the total, more than 251 million shares will be issued to pay a dividend to shareholders, Another 300 million shares will be sold at a 1-for-4 ratio, meaning every shareholder can buy one new share for every four shares held.

* TNG Investment and Trading Company (TNG) said its total revenue rose 26% year-on-year to VND4.56 trillion in 2019, beating the full-year target by 9.7%. Of which, its exports revenue climbed 26% to VND4.35 trillion in 2019, while its domestic revenue soared 35% to VND206 billion.


Category: Business, Vietnam

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