Business Briefs 10 Jul 2019

10-Jul-2019 Intellasia | | 9:06 AM Print This Post

* Vietnam Investments Group (VIG) has registered to sell 32.2 million shares in Gemadept Corporation (GMD), equivalent to 10.9% of GMD’s outstanding shares, through its Vietnam Investments Fund I (2.5 million shares) and Vietnam Investments Fund II (29.7 million shares). Transactions will be made between now and August 2. This follows SSJ Consulting Vietnam Company’s announcement that it had registered to buy 29.7 million GMD shares, or 10% of GMD’s outstanding shares.

* Kinh Bac City Development Corporation (KBC) has successfully issued VND200 billion of two-year secured bonds denominated in Vietnam dong. The proceeds will be used to finance its existing and future industrial park projects in Bac Giang and Quang Ninh provinces. The interest rate is fixed at 10.5% per annum in the first year and 3.5% plus the reference rate in the second year. The reference rate is equivalent to the average 12-month deposit rate for individual clients at four reference banks.

* F& Dairy Investments, a subsidiary of Singapore-based food and beverage company Fraser & eave Ltd, has registered to buy a 1 % stake in Vietnam Dairy Products Company (Vinamilk) with VNM stock code between July 10 and August 8. It is the second largest shareholder in the country’s biggest dairy firm, with a 17.31 % stake. Meanwhile,

Platinum Victory, a unit of Singapore-listed investment firm Jardine Cycle & Carriage Ltd, is seeking to buy a 1 % stake in VNM between July 4 and August 2. It is the third largest shareholder in Vinamilk with a 10.62% stake.

* The Hochiminh Stock Exchange has announced a list of 10 largest securities companies, with SSI Securities Corporation taking the lead with 13.84% brokerage market share, in the first half of 2019. HCMC Securities Corporation and Viet Capital Securities Company ranked second and third with 11.07% and 9.71%, re pectively.

* Budget airline Viet jet (VJC) has increased its stake in Saigon Ground Services Company (SGN) to 9.13% from 3.93%, following its purchase of 1. 74 million SGN shares on July 1. Previously, Port Investment Joint Stock Company had registered to sell 1.7 million SGN shares with transactions taking between June 28 and July 27.

 


Category: Business, Vietnam

Print This Post