Business Briefs 18 Oct 2019

18-Oct-2019 Intellasia | | 7:40 AM Print This Post

* The Hochiminh Stock Exchange (HOSE) has announced that Military Insurance Corpora ion has applied to launch an initial public offering (IPO) on HOSE. The firm, with chartered capital of VND1.3 trillion, is planning to float 130 million shares on the exchange. Its shares are being traded on the Market for Unlisted Public Companies (UPCoM).

* SSI Asset Management Limited Company, a unit related to Nguyen Duc Minh, a board member of Bien Hoa Packaging Company (SVI), will buy 772,000 SVI shares from October 17 to November 15. The firm currently holds no shares in SVI.

* The Hochiminh Stock Exchange will put the shares of Ha Tay Trading JSC (HIT) on the special watch list from October21. The firm has repeatedly violated the regulations on information disclosure though it is on already the warning list earlier.

* Le Minh Hai, chairman of Vietnam-Germany Steel Pipe Company (VGS), has purchased 2.5 million VGS shares to raise his ownership in VGS to 8.5 million shares, or a 20.18% stake.

* The Class Hyosung, a member of South Korea’s Hyosung Group, has written to Hang Xanh Motors Service Joint Stock Company (HAX) offering a bid for a stake of over 51% in HAX. In the first’half of 2019, Haxaco booked over VND2.3 trillion in net revenue, up 8% year-on-year, and some VND30 billion in after-tax profit, down 11 %.

* An Phat Plastic & Green Environment Company (AAA) has announced that it will stop issuing shares under an employee stock ownership plan (ESOP) this year to balance the interests of employees and shareholders. Earlier, the board of directors at the firm passed a plan to issue 8.5 million ESOP shares at VND10,000 per share.

* HUD3 Investment and Construction Company (HU3) will finalize its shareholder list on November 1 to pay a 2018 cash dividend at 12%. With its outstanding 10 million HU3 shares, the firm will spend some VND12 billion on the dividend payment which is slated for November 8.


Category: Business, Vietnam

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