Business Briefs 22 May, 2018

22-May-2018 Intellasia | | 5:43 PM Print This Post

* Development Investment Construction Corporation (DIG) has decided to offer 47.6 million shares to existing shareholders at a 1-for-0.2 ratio.

In 2018, DIG expects to see its revenue soaring 115 percent thanks to earnings from Nam Vinh Yen, Dai Phuoc, DIC Phoenix and DIC The Landmark Residence projects, in which DIC Phoenix may generate VND977 billion.

* Platinum Victory Pte Ltd failed to buy one million shares ofRefrigeration Electrical Engineering Corporation (REE) during the registered period

from April 18 to May 17 due to unfavourable market conditions. Currently, the investor holds 76.4 million shares in REE, or a 24.65 percent stake.

* Vietnam Electrical Equipment Corporation (GEX) will issue 72 million shares to exercise 1,440 stock rights by May 4 for the first stage at

the price ofVND16,600 per share. In 2016, GEX sold 1,800 corporate bond carrying one stock right per bond. Of the amount, the firm sold 1,000 bonds

worth VNDl trillion to Vietnam International Bank and 800 bond worth, D800 billion to Tien Phong Bank. GEX plans to exercise the rights in two

stages. It will fulfill the remaining 360 rights in the second phase. According to Viet Capital Securities Company, both banks did not disclose the current owners of GEX’s corporate bonds.

* Pha Lai Thermal Company (PPC) will pay a dividend of Dl,OOO per share for 201′”‘. Currently, the firm has over 326 million outstanding shares. PPC is going to make the dividend payment on June 14.

* TNG Investment and Trading Company (TNG) said its net profit surged 50 percent year-on-year to VND30.7 billion in the first four months of this year. Its

revenue reached ‘ND823 billion in the period. TNG plans to issue 8.2 million shares to pay a share dividend at a 100-for-20 ratio in the second half of this year.

* Danang Housing Development & Investment Company has purchased one million shares as treasury shares at the average price ofVND 17,730

per share. In 2016, NDNbought back2.5 million shares as treasury shares. Between January and March, the firm made VND66.4 billion in revenue and VND27.8 billion in after-tax profit, up 83 percent and 133 percent year-on-year respectively.


Category: Business, Vietnam

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