Business Briefs 11 Sep 2018

11-Sep-2018 Intellasia | | 8:58 AM Print This Post

* The Pan Group Company (PAN) has received approval from its shareholders for a plan to issue 14.86 million sharesin a private placement to its Japanese partner, Sojitz Corporation, within the second half of this year. PAN expects to sell the shares, which are restricted from transfer in one year, at a minimum price ofVND55,000 each. After the issuance, Sojitz Corporation will become a strategic partner of the Vietnamese firm with an 11 % stake. Previously, PAN’s shareholders also approved a plan to issue up

to VND 1.14 trillion worth of non-convertible bonds in a private placement in the third quarter. The bonds have a fixed coupon rate of 6.8% per year in maximum five years since the issuance date.

* Binh Duong Mineral and Construction Company (KSB) has decided to issue 2.3 million shares under an employee stock ownership plan this month. Earlier, KSB sold nearly 4.68 million shares to pay a 2017 dividend for shareholder at 10%, thus raising its total outstanding volume to nearly 51.5 million shares.

* Le Manh Thuong, a board member of Long Hau Company (LHG), has registered to buy one million shares of LHG from now to October 3 to raise his ownership to 2%.

* Hong Ha Son La Farm Produce Processing Company (HSL) has announced September 19 as the ex-dividend date for shareholders to receive a 2016 and 2017 share dividend at a 1-for-4 ratio, meaning that shareholders will get one nev share for every four shares held.

* KB Vietnam Securities Company has approved a capital hike plan by issuing 138 million shares in two stages. The firm will sell 81 million shares to existing shareholders at a 1-for-2.7 ratio in the first phase and 57 million shares at a 1-for-1.9 ratio in the second stage. After the issuances, the brokerage firm will spur its chartered capital to VND1.68 trillion.

* Phan Bang Viet, a board member of Que Phong Hydropower Company (QPH), has offloaded his entire 1.6 million shares at QPH, equal to an 8.5% stake. QPH share price closed at VND17,300 a share last Friday compared to its peak at VND25,900 per share arourld two months ago.


Category: Business, Vietnam

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