Business Briefs 24 Sep 2018

24-Sep-2018 Intellasia | | 8:15 AM Print This Post

* Securities Corporation (HSC) plans to offer 86.3 million shares at a 3-for-2 ratio this year or in the first quarter of2019 to increase its capital. The firm expects to raise over VND 1.2 trillion given the selling price ofVND14,000 each. Besides, HSC will sell 6.48 million shares in an employee stock ownership plan at VND 14,000 each.

* SK Group will spend US$470 million acquiring nearly llO million treasury shares, or a 9.5% stake, in Masan Group (MSN) following a strategic partnership deal inked by both sides. SK Group will have representatives sitting to the board of MSN.

* TIC Land Company (SCR) will issue over 22 million shares to pay a 2017 dividend for shareholders, using its undistributed net profit last year. After the issuance, the enterprise will raise its chartered capital from VND3.1 trillion to nearlyVND3.4 trillion.

* Tien Giang lnvestmentand Construction Company (THG) will close its shareholder list to advance a 2018 first round dividend in cash for shareholders at 12%. THG is expected to spend VND15.8 billion on the payment given its outstanding volume of nearly 13.2 million shares.

* Finance Investment and Consulting Company has registered to sell its entire 102,700 shares at Sao Mai Group (ASM) from now to October 23.

* Idico Urban & House Development Company (UIC) earned a pretax profit ofVND46.4 billion from revenue ofVND1.87 trillion from January to September: down 25% and up 10% year-on-year, respectively. The firm fulfilled 79% and 89% of its full-year revenue and profit targets, respectively.

* Thanh Cong Textile Garment Investment Trading Company (TCM) has offered to buy 2.75 million shares of Savimex Corporation (SAV). The buying price is set at VND9,OOO per share.

* Fund manager VinaCapital and its VinaWealth Equity Opportunity Fund have offloaded 500,000 and 450,000 shares of Tasco Company (HUT), cutting their holdding to1.03% and 1.02%, respectively.Funds under VinaCapital are still holding near 32.3 million shares at HUT, or nearly 13%.

* Binh Duong General Printing Company will auction over 5.45 million shares at the starting price of VND12,500 each on September 25. There are three individuals joining the initial public offering, registering to buy a combined one million shares of the firm.


Category: Business, Vietnam

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