Business Briefs 11 July 2018

11-Jul-2018 Intellasia | | 7:35 AM Print This Post


* MB Capital has become a major shareholder of the Vietrtam Electrical Equipment Corporation (GEX) after acquiring 24.8 million shares to spur its holdings from 0.99% to 8.31 %. In addition, VietinBank Capital has bought 21.6 million shares of the enterprise to raise its ownership to 7.41 %.

* The Hanoi Stock Exchange has given its approval to Phu Tho Tourist Service Company to float 118 million shares on the market for unlisted public enterprises, or UPCoM, under the code of DSP. In 2015, the firm auctioned its shares at the starting price of VND12,000 per share, with-77 investors purchasing at an average price ofVND12,347. DSP raised nearly VND374 billion from the initial public offering.

* Vinaconex Energy Investment Construction and Development Company (VCP) will offer more than 11.3 million shares, including 9.1 million shares to existing shareholders and over 2.2 million shares to key staff, to mobilize nearly VND 120 billion. It will use the proceeds to invest in a hydropower plant project.

* Artex Securities Company (ART) plans to issue more than 108 million shares at~DlO,OOO per share to raise its capital from VND310.5 billion to VND456 billion. The capital hike will help the brokerage firm participate in the derivatives market. The shareholders of ART had earlier passed a plan to issue 6.2 million shares to pay the dividend for 2017 at 20%.

* Ha Long Beer Beverage Company (HLB) will spend VND15 billion to pay an interim dividend ofVND5,000 per share for 2018. Currently, the firm has three million outstanding shares. The firm will make the payment on July 25. In 2017, the brewery firm made the dividend payment at the combined ratio of 70%.

* KIDO Frozen Foods Company (KDF) will spend VND78.4 billion to pay an interim dividend ofVND 1,400 per share for 2018. The firm now has 56 million outstanding shares. It will make the payment on August 8. KDF plans to move its share listing to the Hochiminh Stock Exchange from the market for unlisted public enterprises, or UPCoM. In the first quarter of this year, KDF incurred a loss ofVNDlO.46 billion, compared with a net profit of VND13.6 billion in the same period last year.


Category: Business, Vietnam

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