Business Briefs 14 Dec 2018

14-Dec-2018 Intellasia | | 8:59 AM Print This Post

* Thanh Thanh Cong – Bien Hoa Company (SBT) will spend VND 198 billion paying the interim dividend ofVND400 per share for the fiscal year 2018 on the record date of December 25, with payment slated for January 25, 2019. In addition, SBT will issue 29.7 million shares from December to March 2019 to pay a dividend at the 3-for-50 ratio for the fiscal year 2017.

* Refrigeration Electrical Engineering Corporation has registered to buy 2.5 million shares of Pha Lai thermal power plant (PPC), which would bring its stake from the current 23.4% to 24.1 %. The transaction is estimated to cost VND45 billion based on PPC’s current price of around VND 18,000.

* The PAN Group Company (PAN) has announced a plan to buy 4.8 million shares, or an 11.85% stake, of Sao Ta Foods Company (FMC) between December 12 and January 14, 2019. PAN will acquire the shares at VND30,000 each. After the transaction, PAN will raise its ownership in FMC to 45%, or 18.1 million shares, from the current 33.15%.

* MobiFone Telecom will be offloading its entire 5.5 million shares, or a 0.83% stake, in TPBank (TPB). According to Viet Capital Securities Company, this is the second attempt by the founding shareholder after its unsuccessful divestment in early October this year. Transactions will take place from now to April 2019. The starting price will not be lower than VND25,230.

* Dap Cau Garment Company (DCG) will float 5.25 million shares on the market for unlisted public enterprises, or UPCoM, on December 14, with the initial price set at VND25,500. Based in Bac Giang Province, the company turns out over 1.5 million products a year, with exports making up 90% of total revenue. State-owned garment and textile group Vinatex now owns a 24% stake in DCG.

* Gia Lai Electricity Company (GEG) will consult its shareholders over a plan to move its listing to the Hochiminh Stock Exchange, having traded shares on the UPCoM for nearly two years. Earlier; GEG issued over 97 million shares to 655 existing shareholders, raising VND971 billion.


Category: Business, Vietnam

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