Business Briefs 11 December 2019

11-Dec-2019 Intellasia | | 9:49 AM Print This Post

* Vietnam Dairy Products JSC (VNM) will buy more shares of GTN Foods JSC (GTN) to raise its ownership in GTN to 75%. VNM currently owns nearly 108 million GTN shares, or 43.17%. After VNM announced its plan to buy more GTN shares, the GTN board has refused to sell but major shareholders of GTN hav e sold their shares to VNM. For example, West Ocean Invest JSC transferred 36 million GTN shares to VNM, reducing its ownership in GTN from 18% to 14%, while Tael Two Partners sold all its 55 million GTN shares to the dairy giant, Thanh Nien Online newspaper reported.

* Nguyen Dinh Viet, son of chairman Nguyen Dinh Tu of Wall Street Securities Company (WSS), has registered to buy 15 million WSS shares from December 10 this year to January 8 next year via put-through and order-matching transactions. At present, Viet has no WSS shares.

* Seaprodex Refrigeration Industry Corporation (SRF) has set a target of raising its revenue by 25% to VND2 trillion in 2020, but keeping the after-tax profit unchanged from the target for 2019 at VND86 billion.

* Development Investment Construction JSC (DIG) will transfer its 7.9% stake at Vina Dai Phuoc JSC at a minimum value of VND230 billion.

* VNT Holdings JSC, a large shareholder of The Van Cargoes And Foreign Trade Logistics JSC (VNT), has registered to buy 4.75 million VNT shares from December 9, 2019 to January 7, 2020 via put-through and order-matching transactions. VNT Holdings currently holds more than 1.35 million VNT shares, or an 11.38% stake.

* Military Commercial Joint Stock Bank (MBB) will sell 23 million treasury shares after getting the approval from the State Securities Commission. The bank has raised its charter capital by over VND2.1 trillion to VND23.7 trillion by paying a 2018 dividend of8% by shares and issuing employee stock ownership plan shares.

* Vinhomes JSC (VHM) has completed the purchase of60 million treasury shares. Meanwhile, Vincom Retail JSC has bought more than 45 million treasury shares among the 56.5 million shares that it had earlier registered to buy until December 3, according to the Hochiminh Stock Exchange.


Category: Business, Vietnam

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