Business Briefs 10 Oct 2018

10-Oct-2018 Intellasia | | 9:29 AM Print This Post

* Tien Phong Bank (TPB) has got approval from the State Bank of Vietnam to raise its chartered capital from VND 6.7 trillion to over VND 8.5 trillion via payments of dividend and bonuses in shares. In August, the bank obtained approval to raise its capital from VND 5.8 trillion to VND 6. 7 trillion by issuing 87.6 million shares via a private placement.

* An Phu Irradiation Company (APC) has decided to sell six million shares to the public to raise VND 180 billion. Of the proceeds, it will spend VND 150 billion investing in an irradiation plant in Bac Ninh Province, which requires total investment of over VND 693 billion. Besides, APC will spend VND 30 billion supplementing its working capital.

* SeaprodexRefrigeration Industry Corporation (SRF) has armounced to buy back over 762,000 shares, equal to 2.35% of its total outstanding volume. The firm is expected to spend around VND 10 billion on the purchase. SRF share price is around VND 14,100 on the Hochiminh Stock Exchange, or 59% lower than its peak at VND 35,OOO reached in February 2017.

* Shareholders ofVPBank Securities Company have passed a scheme to issue 203 million preferential shares at VND 10,000 each. The preferential shares carry no voting rights but can be converted into common shares in the future. The brokerage firm expects to raise VND 2 trillion from the issuance to expand its business activities.

* Tay Ninh Cable Car Company (TCT) will close its shareholder list on October 19 to pay a 2017 second round dividend in cash at 3%. In 2017, the firm gave a cash dividend at 55%, including 27% for the first stage of2017 and 28% for the second phase of 2016.

* The trade union of Thanh Thanh Cong-Bien Hoa Company (SBT) has registered to sell its entire 4.6 million shares of the sugar firm. Transactions will take place from October 10 to November 8. SBT share price on the HCMC market is around VND 20,OOO.

* The State Capital Investment Corporation will auction nearly 255 million shares of Vietnam Construction and Import-Export Corporation (VCG), or a 57.7% stake, within the last quarter of 2018. Ending the first six months, VCG obtained VND 4.3 trillion in revenue, up a slight 4% over the same period last year.


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