Business Briefs 27 November 2019

27-Nov-2019 Intellasia | | 9:23 AM Print This Post

* Gia Lai Electricity Company (GEG) looks to purchase a 90% stake in V.P.L Ben Tre Wind Power Plant. The company will bargain with VPL Energy JSC as the project owner over the value of the transfer, targeting a value equal to the development cost of the entire plant project until present that should not be more than VND77 billion, The plant has a total capacity of 70 megawatts.

* Investment and Industrial Development Corporation, or Becamex (BCM), has decided to cancel its floatation of over one billion BCM shares on the market for unlisted public companies (UPCoM) to move to the Hochiminh Stock Exchange (HOSE). It is set to list BCM shares on HOSE in early January 2020, Besides this, Becamex plans to issue 207 million shares priced at VND15,000 per share to existing shareholders to raise its charter capital in 2020.

* International Gas Product Shipping JSC (GSP) will close its shareholder list to pay a 2018 share dividend at 20% on December 3, The firm will issue six million shares for dividend payment. This is the first time GSP has paid dividends by shares since its first trading day on HOSE in 2012.

* The State Securities Commission on November 21 imposed a fine of VND45 million on Vu Thi Thu Huong, wife of Nguyen Hung Cuong, chairman of Thanh Nam Group JSC (TNI), for purchasing 227,440 TNI shares on August 27 without reporting the transaction to the commission and the Hochiminh Stock Exchange.

* Hanoi-Haiphong Beer JSC (HAD) has chosen December 6 as the ex-dividend date to pay a 2018 third round dividend in cash for shareholders at 54.5%. The payment date is slated for December 31.

* Nguyen Van Thao, deputy general director of Dong A Hotel Group (DAH), will sell three million DAH shares from November 27 to December 25 to cut his holding in DAH to 1.5 million shares, or a 4.39% stake.

* Nam Kim Steal JSC (NKG) has approved a plan to establish a subsidiary company and invest in the Nam Kim Chu Lai Steel Pipe plant project in Quang Nam Province, The plant is expected to produce 150,000 tons of steel pipes per year, The firm plans to spend an estimated VND150 billion on the plant.



Category: Business, Vietnam

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