Business Briefs 25 March 2019

25-Mar-2019 Intellasia | | 1:56 PM Print This Post

* Hoa Sen Group (HSG) is seeking approval from shareholders for a capital raising plan, in which VND500 billion to VND1 trillion of new shares will be offered via rights issues to existing shareholders or a private placement to strategic investors. Otherwise, the steel firm will sell bonds to raise’ the above amount.

* NBB Investment Corporation (NBB) has announced to buy back over 9.7 million of its own shares with the buying price not higher than VND22,000 per share. The property firm is expected to spend over VND 182 billion on the stock buyback. Currently, HCM City Infrastructure Investment Corporation (CII) holds a 48 percent stake at NBB.

* Dat Xanh Group (DXG) will issue 170 million shares for 2018 dividend payments, employee stock ownership plan (ESOP) and share sales to existing shareholders. Of this, DXG will issue 76.96 million shares to pay a 2018 dividend of 22 percent while six million shares will be issued as ESOP shares. Besides, some 87.45 million shares will be offered to shareholders at VND10,000 per share. The expected proceeds of VND875 billion from the share issue will be used to fund new property projects.

* Van Phu Invest Company (VPI) has projected this year’s net profit at VND510 billion, up 17 percent compared to 2018, and its revenue at VND3.3 trillion, a 545 percent rise. The property developer also plans to pay a dividend of VND2,000 per share for 2018.

* Military Bank Securities Company (MBS) will ask its shareholders for approval for a share sale to raise its capital by VND500 billion to more than VND1.7 trillion. It will offer shares to existing shareholders and staff and pay a share dividend of 10%. The share price is VND10,000. MSB also plans to move from the Hanoi Stock Exchange to the Hochiminh Stock Exchange for trading this year.


Category: Business, Vietnam

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