Business Briefs 19 April, 2018

19-Apr-2018 Intellasia | | 6:06 PM Print This Post

* SAM Holdings Corporation (SAM) plans to issue 108 million shares to increase its chartered capital from VND2.4 trillion to VND3.5 trillion. Of

which, SAM will issue 7.25 million shares to pay a 3 percent dividend and sell 101 million shares to existing shareholders at DlO,OOO each. The firm will use proceeds from the share sale to acquire State stakes at potential firms, restructure debts and supplement working capital.

* Hoang Huy Investment Services Company (HHS) has decided to buy back 20 million shares as treasury shares to reduce the number of outstanding shares. Transactions will be conducted in 30 days after it gets approval from the State Securities Commission. The HHS stock price is around VND4,200 per share on the market.

* No Va Land Investment Group Corporation (NVL) has approved key terms for its $300 million convertible bond issue, which will be listed on the Singapore Stock Exchange. The conversion price of the bond will be VND64,000 per share. If the bonds are fully converted, this will add 106.9 million shares, equivalent to 12.5 percent of the firm’s total outstanding shares. The coupon rate and time to maturity were not provided.

* Quoc Cuong Gia Lai Company (QCG) received VND2.88 trillion from Phuoc Kien project in HCMe’s ha Be District developed by Sunny Island Investment Joint Stock Company. The investment value ofPhuoc Kien project as of the end of 2017 rose 19.95 percent year-on-year to VND5.08 trillion. The real estate company used proceeds to fulfill its obligation with Bank for Investment and Development of Vietnam and developed its housing projects.

* Saigon-Hanoi Securities Company (SHS) earned a pre-tax profit of VND 168.9 billion in the first quarter of this year, jumping 3- fold year-on-year.

Its revenue jumped 2.4-fold to VND365 billion. Its income from brokerage services rose 80 percent to VND79.4 billion, from proprietary trading rocketed 6.3- fold to VND164 billion and that from securities custodian services climbed 60 percent to VND95 billion. Earlier, SHS has been fined VND250 million for vio-

lating securities trading rules.

* Vietnam Southern Food Corporation (VSF) will begin trading 115 million shares on the market for unlisted public enterprises, or UPCoM, on April 23 at the reference price ofVND10,100 each.


Category: Business, Vietnam

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