Business Briefs 13 March, 2018

13-Mar-2018 Intellasia | | 12:44 PM Print This Post

* An Phu Irradiation Company (APC) will present shareholders a plan to issue six million shares for less than 100 investors in a private placement.

The shares are not available for trading within two years from the issuance date. It will use the proceeds to invest in an irradiation plant in Bac Ninh

Province and supplement its working capital.

* Some 41 investors have registered to buy 115.6 million shares of Vietnam Southern Food Corporation (Vinafood II) in the initial public offering on March 14. It will offer 114.8 million shares at the starting price of VND 10,100 each, with over VND 1.1 trillion expected to be raised. After going

public, Vinafood II will have total chartered capital ofVND5 trillion with 51  percent owned by the State. It will sell over 4.96 million shares to employees, 200,000 shares to staff and 125 million shares to strategic investors.

* Vinacomin has acquired over 4.1 million shares in Vinacomin-Deo Nai Coal Company (TDN) to raise its ownership from 51  percent to 65 percent.

* CMC Corporation (CMG) is seeking approval from its shareholders to issue VND300 billion worth of corporate bonds in 2018. The five-year inconvertible debt will be secured by assets. CMG aims to use proceeds to fund its projects.

* Bamboo Capital Company (BCG) has received approval front its shareholders to use VND375 billion to set up BCG Land Joint Stock Company with registered capital ofVND600 billion. BCG will hold a 62.5 percent stake in the would-be firm. In the 2011-2016 period, BCG conducted 11 merger and acquisition transactions.

* Binh Duong Trade and Development Company (TDC) aimed to earn a net profit ofVND133 billion from revenue ofVND2.3 trillion in 2018, down 1.3 percent and up 72 percent versus the previous year respectively. TDC also looks to pay a dividend of at least 10.5 percent


Category: Business, Vietnam

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