Business Briefs 25 January 2019

25-Jan-2019 Intellasia | | 9:19 AM Print This Post

* The PAN Group (PAN) will close its shareholder list on February 1 to issue around 34 million shares to facilitate its capital hike plan. Shareholders will receive 25 new shares for every 100 shares held. The PAN share price is currently around VND44,OOO compared to its peak of VND72,600 recorded on April 6, 2018.

* State-owned lender Agribank for the third time failed to divest capital at tourism firm Agritour as no investors registered to join the Agritour share bidding, which was earlier scheduled to take place on January 25. Agribank previously planned to sell its entire 5.29 million shares at the firm at the starting price of VND15,370, down 10% from that of the second auction and 20% versus the first bidding.

* BIDV Insurance Corporation (BIC) said its consolidated pre-tax profit rose 8.8% against 2017 to VND202.8 billion last year. The parent company’s premium revenue increased 16.3% to VND2.1 trillion in 2018, exceeding the year’s target by 3.2%. Besides, its bancassurance operation’s revenue in 2018 soared 50%.

* Quoc Cuong Gia Lai Company (QCG) has announced to reduce the stake of Chanh Nghia Quoc Cuong from 74.68% to 30.8%, equivalent to around VND360 billion. Chanh Nghia Quoc Cuong was established in September 2018 with chartered capital of over VND1.1 trillion, with QCG Chairwoman Nguyen Thi Nhu Loan serving as chairperson and general director.

* Doan Hoa Thuan, general director of Hai Phat Investment Company (HPX), will be buying one million shares of the property firm, or a 0.5% stake, from now to February 23. Thuan now has no shares at HPX.

* Dabaco Group Company (DBC), one of the leading animal feed producers in Vietnam, said its consolidated net profit surged 77% year-on-year to VNDU3.6 billion in the fourth quarter of last year thanks to the recovery of the livestock sector. Its revenue rose 12.3% year-on-year to VND1.83 trillion in the quarter.

* Nguyen Sy Tiep, chairman of Saigon Cement Company (SCJ), has registered to buy six million SCJ shares from now to February 22, Currently, Tiep is holding over 19 million shares at the enterprise, or a 50.6% stake.


Category: Business, Vietnam

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