Business Briefs 27 Jun 2018

27-Jun-2018 Intellasia | | 8:28 AM Print This Post

* Pham Minh Huong, chairwoman ofVNOirect Securities Company,has acquired five million shares of the brokerage firm, raising her owner ship to 2.7%, or nearly six million shares. Huong is expected to spend some VN096 billion on the purchase. The VNO share price is some VN019,000 on the HCMC market, down over 30% compared with that of three months ago.

* SMC Trading Investment Company (SMC) will issue 12.6 million shares for dividend payment at a 1O-for-3 ratio on the record date of July 9. SMC aims for a dividend payout ratio of 40% for 2017. It plans to sell 1.1 million tons of steel products in 2018. In the first quarter of this year, SMC earned a consolidated net profit ofVN073.5 billion from its revenue ofVN03.26 trillion, down 30.8% and up 15.6% year-on-year, respectively.

* Power Construction Company (PC1) has received an investment certificate for Thanh Xuan real estate project in Hanoi City. This residential building is expected to have 480 apartments, said Viet Capital Securities Company. PC1 plans to launch sales for the project in the third quarter of2018, with an expected average selling price ofVND25 million per square meter.

* Quang Ninh Construction & Cement Company (QNC) has announced plans to issue 25 million shares at a private placement for four investors at a price ofVNOlO,OOO each by the first quarter of 2019. To Tay Limited Company has registered to buy 10 million shares, while Tam Van Ha Long Joint Stock Company, Hung King Vietnam Limited Company and
Q C’s General Director To Ngoc Hoang are seeking to buy five million shares each. The firm plans to hike its registered capital to VND622 billion after the issuance from the current VN0372 billion. It plans to use VNO 165 billion to tackle its bank debts, \!K050 billion for the cement production sector and another VN035 billion for the material production sector.

* Can Tho Cement and Mineral Company (CCM) will delist from the Hanoi Stock Exchange on June 29 to focus on business restructuring and improve its production activities. The enterprise is currently trading 6.1 million hare on the bourse.


Category: Business, Vietnam

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