Business Briefs 11 Oct 2018

11-Oct-2018 Intellasia | | 9:06 AM Print This Post

* Vincornrnerce, a consumer retail unit of conglomerate Vingroup (VIC), has taken over Fivimart. Following the merger, all Fivimart stores will be converted into the VinMart format with the addition of complimentary products from VIC’s ecosystem such as VinEco agricultural products, VinMart’s ready cooked cuisine and homecare products. Established in 2007, Fivimart is a supermarket chain in northern Vietnam with 23 stores mainly located in residential areas in Hanoi City.

* The PAN Group (PAN) will seek shareholder approval to issue nearly 34 million shares for existing shareholders to spur its capital scale. It Will also sell 102,000 shares under an employee stock ownership plan (ESOP). The ESOP shares will be banned from trading in the first two years and 50% will be available for transfer in the third year.

* Thai Duong Petrol Company (TDG) has decided to sell 13 million shares to existing shareholders at a 129-for-130 ratio, with the selling price set at VND10,000, TDG will conduct the plan in the last quarter of2018 or the first quarter of2019, raising VND130 billion to expand cooperation with enterprises in the same industry and increase the wholesale and retail business.

* Phuoc Hoa Rubber Company (PHR) made a pre-tax profit of VND425 billion in the first nine months of this year, which exceeded the plan set for the Ianuary-September period by 6%. PHR sold 19,380 tons of latex in the period, earning VND664.6 billion.

* Central Pharmaceutical Company No.3 (DP3) has announced to issue 1.8 million shares, including 850,000 shares for existing shareholders at 1-for-8 ratio and the selling price ofVND26,400. Besides, DP3 will sell 100,000 shares to key personnel at VND26,400 and 850,000 shares via public auction on the Hanoi Stock Exchange at the starting price ofVND66,000. The firm will use the proceeds to supplement its working capital and invest in facilities and technology.

* Viglacera Corporation (VGC) earned a consolidated pre-tax profit of VND754.6 billion in the January-September period, which fulfilled over 79% of the entire year’s target. The parent company made a pre-tax profit ofVND476 billion in the period. Currently, VGC is operating 10 industrial zones with the combined area of 3,000 hectares, said Viet Capital Securities Company.


Category: Business, Vietnam

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