Business Briefs 28 Jun 2019

28-Jun-2019 Intellasia | | 8:39 AM Print This Post

* State Capital Investment Corporation (SCIC) has announced a list of 108 enterprises from which it will divest this year. The list includes major firms such as insurance company Bao Minh, tech firm FPT, pharmaceutical company Ladophar and construction enterprise Licogi, in which SCIC holds 51 %, 6%, 32% and 41 %, respectively. Vietnam’s biggest dairy processor Vinamilk, in which SCIC holds a 36% stake, is also included in the list, but SCIC is seeking the prime minister’s direction on the divestment from the firm. By May 31, SCIC held stakes valued at some VND28.6 trillion at book value and VND116 trillion at market value in 144 firms. From 2017 to May 2019, SCIC sold State capital at 51 enterprises, earning VND20.1 trillion.

* Vietnam Dairy Products JSC, a large shareholder of GTNFoods JSC (GTN), has bought more than 5.84 million GTN shares, raising its holding at GTN to over 101.7 million shares, or 40.68%.

* Tien Phong Plastic JSC (NTP) will issue 8.92 million shares worth VND89,24 billion at a ratio of 10:1 to raise its charter capital to over VND981.64 billion. The shares are expected to be issued this quarter and next. This year, the company looks to generate revenue of VND5 trillion and pre-tax profit of VND425 billion and pay a 10% dividend. In the first quarter, NTP earned more than VND1 trillion in revenue and VND80.26 billion in profit, reaching 20.2% and 18.88% of the targets, respectively.

* No Va Land Investment Group Corporation (NVL) has decided to pour an additional VND 1. 6 trillion into Nova Hospitality JSC this quarter and next. After the investment, NVL will hold nearly 165 million shares worth some VND1.65 billion at Nova Hospitality.

* Nguyen Thanh Tuyen, chairman of MST Investment Corporation (MST), has acquired two million MST shares via put-through transactions, raising his holding at MST to more than 5.01 million shares or 14.11 %. Mean while, MST Vice Chairman Nguyen Huy Quang has sold two million shares. Quang now holds over 2.06 million MST shares or a 5.82% stake.

* NOSODA Co., Ltd a large shareholder of Song Da 7.04 Joint Stock Company (S74), has registered to buy one million S74 shares from June 26 to July 24 via order-matching and put-through transactions. NOSODA currently holds 1.52 million S74 shares or a 23.46% stake.


Category: Business, Vietnam

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