Business Briefs 20 Dec 2018

20-Dec-2018 Intellasia | | 9:30 AM Print This Post

* Thanh Thanh Cong Investment Company (TIC Group), the largest shareholder of Thanh Thanh Cong – Bien Hoa Company (SBT), acquired 35 million shares in SBT from November 16 to December 14. TIC Group did not meet with the target of 45 million shares it registered to buy over the period. After the transaction, the investor raised its stake in SBT to 32%, or 158.5 million shares.

* PetroVietnam Power Corporation (POW) has got approval to float 2.3 billion shares on the Hochiminh Stock Exchange. Earlier, POW debuted on the market for unlisted public enterprises, or UPCoM, in March 2018 at the reference price ofVND14,900. Currently, its share price is around VND 14,800.

* PENM III Germany GMBH & Co. KG failed to sell 20 million shares of Hoa Phat Group (HPG) as earlier registered. The investor is still holding over 49 million shares at the steel firm, or a 2.31 % stake.

* Le Minh Tuan, deputy general director ofTu Liem Urban Development Company (NTL), has bought 1.68 million NTL shares to raise his stake to over 2.4 million shares, or around 4%.

* Indochine Import Export Industrial Investment Company (DDG) yesterday started trading 12 million shares on the Hanoi Stock Exchange at the reference price ofVND11,800 each. DDG is active in various segments such as steam supply, heat supply, cogeneration, biomass fuels, electric garbage, and renewable energy. The firm is the steam and heat supplier of major companies in Vietnam, including Heineken Vietnam Brewery, Phuoc Hoa Rubber Company and Ton Dong A Corporation, said Viet Capital Securities Company.

* Asia Commercial Bank (ACB) has decided to issue VND2.2 trillion worth of inconvertible secured bonds. The 10-year debt will carry a face value ofVND 1 billion. The debt issuance aims to help ACB improve its capital scale and meet credit demands of clients.

* Mekophar Chemical Pharmaceutical Company (MKP) plans to offer 3.83 million shares to the public at a 2-for-10 ratio. The selling price is set at VND40,000, 31 % lower than its current market price. The firm looks to raise over VND153 billion from the issuance to invest in the second phase of a drug research and production project in HCMC.


Category: Business, Vietnam

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