Business Briefs 21 Aug 2019

21-Aug-2019 Intellasia | | 8:52 AM Print This Post

* Techcombank (TCB) plans to issue more than 3.5 million shares for its staff under an employee stock ownership plan at the price of VND10,000 per share. Of the total, some 325,000 bonus shares will be set aside for the bank’s foreign employees while the remaining shares will be for Vietnamese workers. The issuance will take place this year after it is approved by the State Securities Commission. The bonus shares will be available for trading.

* KIS Vietnam Securities Company (KIS) will issue covered warrants that underline shares of four large-cap firms – steel maker Hoa Phat Group (HPG), consumer staple firm Masan Group Corporation (MSN), real estate giant Vingroup (VIC) and its retail arm Vincom Retail (VRE). All four covered warrants will have a term of three months, with a conversion ratio of two to one for HPG and VRE and five to one for MS and VIC. The prices of the four covered warrants will be 30% higher than the market price of the underlying stocks.

* FECON Corporation (FCN) will issue 5.7 million shares to pay a dividend at a 5-for-100 ratio for 2018 with the record date set for August 22. FC made a consolidated net profit of VND112 billion on revenue of VND1 trillion in the first half of this year, up 68.4% and 9.8% year-on-year, respectively.

* KIDO Frozen Foods Company (KDF) said its net profit skyrocketed by 3.5-fold year-on-year to over VND121 billion in the January-July period this year, exceeding the full-year target by 3%. Its revenue rose 17% to VND937.7 billion in the period, meeting 64% of the whole-year plan.

* Ocean Group has registered to buy 6.8 million shares of Ocean Hospitality Company (OCH) from August 20 to September 16 to raise its ownership from 56.5% to 59.9%. Between June and July this year, the investor acquired two million OCH shares out of the registered volume of three million shares. On the Hanoi Stock Exchange, OCH share price is around VND7,800 but the firm has reported very low liquidity over the past three months.


Category: Business, Vietnam

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