Business Briefs 15 March 2019

15-Mar-2019 Intellasia | | 9:21 AM Print This Post

* The management of FPT Retail Company (FRT) has proposed issuing 680,000 employee stock ownership plan (ESOP) shares, or 1% of the current number of outstanding shares. The purchasing price will be VND10.000. This ESOP issue is set to take place during the second and third quarter of 2019. There will be 333,200 shares available for foreigners following the ESOP sale.

* Phu Nhuan Jewelry Company (PNJ) plans to start operating as a franchisee for a foreign gold jewelry brand in October, as part of its initiative to expand by selling third-party products. PNJ could house this foreign brand in its existing retail store network in the first phase. PNJ aims to increase sales of third-party products from 10% in 2018 to 30% in the next five years.

* Samsung Life is seeking to acquire a 20% stake in Bao Viet Life, which is a wholly owned subsidiary of Bao Viet Holding (BVH), said Viet Capital Securities Company. Currently, Sumitomo Life Insurance Company is a strategic investor of BVH with a 17.5% take.

* Lucerne Enterprise Ltd, a major Shareholder of Licogi 16 Company (LCG), has sold 582,000 LCG shares to cut it ownership to over 18.2 million shares, or 18.6%.

* C.E.O Group (CEO) has targeted a consolidated net profit of VND445 billion for 2019, up 20% against last year, from its revenue of VND3.2 trillion, a 35% rise. Besides, CEO plan to issue 103 million shares to its existing shareholders in the second and third quarter of this year to raise the registered capital by 66.6% to VND2.57 trillion. The property developer will focus on the implementation of Sonasea Van Don Harbor City project in the northern province of Quang Ninh, along with putting several hopping mall and resort projects on Phu Quoc Island into operation in 2019.

* Nam Tan Uyen Company (NTC) plans to pay a dividend of VND20,000 per share for 2018. The firm expects to pend 320 billion on the payment.


Category: Business, Vietnam

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