Business Briefs 28 Sep 2018

28-Sep-2018 Intellasia | | 9:45 AM Print This Post

* PAN Group, a leading agriculture and food processing firm in Vietnam, has announced the sale of its 13.4 million shares, or 10% of the total, to Japan’s Sojitz Corporation. According to PAN’s press release, the price of each share was VND61,000, so the group earned VND817.4 billion, higher than the amount it had pledged with shareholders early this month. After the deal closed, PAN’s charter capital rose from VND1.2 trillion to nearly VND1.34 trillion. PAN will use the proceeds from the share sale to conduct more merger and acquisition deals, targeting local agriculture and food processing companies.

* Dai Thien Loc Company (DTL) has passed a plan to issue over 30.3 million new shares for dividend payment, thereby raising its chartered capital from VND606 billion to VND909 billion. The firm will conduct the plan next month after it obtains approval from the State Securities Commission.

* An Giang Province s government will auction over 19 million shares of An Giang Power and Water Company on October 18. The starting price is set at VND21,200. The enterprise is capitalized at VND486.6 billion.

* Sao Mai Group has registered to buy 27 million shares ofLD.! International Development and Investment Corporation (IDI) from September 28 to October 26. Once completed, the investor will raise its ownership at IDI from 51.1 % to 66%, or over 119.8 million shares.

* Ha Tien Cement Company (HTl) has announced an ex-dividend date of October 10 for the 2017 cash dividend of VND1,500 per share, equivalent to an 11 % dividend yield. The payment date will be October 25. This dividend payment is in line with a plan approved at HTl’s 2018 annual general meeting.

* Netland Real Estate Company (NRC) expects a net profit of D50 billion in January-September, meeting 71 % of its profit full-year target. NRC has reached an agreement with its partner in the Haborizon Nha Trang projectto earn a net profi of VND45 billion in the fourth quarterofthi year.

* Bui Van Hai, a major shareholder of American Vietnamese Biotech Incorporation (AMY), has offloaded 1.8 million shares of AMY, cutting his stake at the firm from 9.1 % to 2.5%.


Category: Business, Vietnam

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