Business Briefs 13 February 2019

13-Feb-2019 Intellasia | | 8:50 AM Print This Post

* Truong Hai Auto Corporation (THA) will consult its shareholders over a plan to issue 30.3 million shares, accounting for 1.82% of its outstanding shares, to raise funds for its business expansion and infrastructure development projects. fHA will sell the shares to Jardine Cycle & Carriage Limited, thereby raising the investor’s holding from 25.23% to 26.57%. The firm is expected to raise nearly VND3.9 trillion from the share sale at VND 128,500 per share. The new shares will not be tradable within one year.

* Cuong Thuan IDICO Investment and Development Company (CTI) plans to issue VND200 billion worth of bonds to strengthen investment in stone mining and industrial clusters in Dong Nai Province. This year, CTI targets to make more than VND1.5 trillion in revenue and VND172 billion in after-tax profit, up 65% and 15% against 2018.

* Tran Tuan Anh a board member and general director of Kien Long Bank (KLB), has registered to buy 500,000 KLB shares to secure a 0.15% stake in the lender. Transactions will take place within one month starting February 15.

* Vietnam Dairy Products Company (VNM) has reported a year-on-year after-tax profit jump of 32% to VND2.3 trillion for the fourth quarter of 2018. The company recorded 5.3% growth in revenue, which reached VND13 trillion for the quarter.

* The Hanoi Stock Exchange will hold eight auctions in February to sell over 37.6 million shares of companies, including Thai Hoa Water upply JSC, Dien Chau Water Supply JSC, Cua Lo Water Supply SJC, Quynh Luu Water Supply JSC, Ha Tinh Urban and Environment JSC, Ninh Binh Water Supply and Sewerage SJC, Lilama 69-3 JSC and Lilama 10 JSC.

* Tran Hung Huy, chairman of Asia Commercial Bank (ACB), has registered to buy four million ACB shares via put-through transactions from February 14 to March 14. Huy is holding over 40 million shares in the bank or a 3.2% stake.

* VNT Holdings will be buying over two million shares of The Van Cargoes and Foreign Trade Logistics Company (VNT) from now to the end of this month. Currently, VNT Holdings is a major shareholder at the enterprise with a 5% stake, or 600,000 shares.


Category: Business, Vietnam

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