Business Briefs 18 Sep 2018

18-Sep-2018 Intellasia | | 9:12 AM Print This Post

* Vietcombank (VCB) has announced to auction 53.4 million shares of Military Bank (MBB) at the starting price of VND19,641 per share. The auction will take place on October 15. VCB is expected to raise over VND1 trillion from the bidding.

* Vietnam National Petroleum Group (PLX) is preparing to sell a maximum of 60 million out of its 135 million treasury shares, equivalent to a 4.9% stake PLX expects to conduct the scheme in the fourth quarter of 2018 after getting approval from the Ministry of Industry and Trade and the State Securities Commission. It will use the proceeds to finance core business expansion.

* FLC Faras Construction Company (ROS) has passed a principle to establish Golden Choice Investment and Development Company with chartered capital ofVND800 billion. Headquartered in Soc Trang Province, the firm operates in the real estate, construction and service sectors.

* Fecon Company has decided to transfer over 10.6 million shares at

FECON Mining Company (FCM) to cut its ownership from 36% to 10%. At an extraordinary shareholder meeting last week, FCM announced Phan Vu Investment JSC as its strategic shareholder with a 51 % stake.

* National Seed Company has acquired nearly 127,000 shares of Southern Seed Corporation (SSC) to secure a 94.6% stake in the latter. In May, the investor spent nearly D180 billion acquiring over 2.5 million shares at SSe.

* Kon Turn Water Supply Company will offer over 5.2 million shares at its initial public offering on September 26 with the starting price set at VND12,700 per share. After going public, the firm will have chartered capital ofVND83.3 billion, in which the State will hold a 35% stake. The firm will also sell 200,800 shares, or a 2.4% stake, to its staff and the trade union.

* Hung Hau Agricultural Corp (Sl I) has got approval to trade an additional1.1 million shares on Hanoi Stock Exchange. The additional shares were issued to pay share dividend to its shareholders and bonus shares

* Thuong Phu Coffee Company (CTP) has issued one million additional shares to pay a 10% dividend to its shareholders, meaning shareholders will receive one new share for every 10 current shares.


Category: Business, Vietnam

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