Business Briefs 30 November 2018

30-Nov-2018 Intellasia | | 7:56 AM Print This Post

* Construction Company 47 (C47) has received approval from its shareholders to increase the foreign ownership limit to 49% from the current 3.31 %. The firm has adjusted multiple fields in its business registration to seek approval from local authorities. C47 expects to issue 17 million shares in a private placement to its business partners from Hong Kong, China, and South Korea at the price ofVND20,000 each in 2019. These shares have a lock-in period of one year since the issue date. In addition, C47 wants to

offer 850,000 shares under an employee stock ownership plan (ESOP) at VND10,OOO each. These shares will be banned from trading for two years since the date of issuance.

* Vietnam Dairy Products Company (VNM) has announced that it was the sole winner in bidding for a school milk program in Hanoi, said Viet Capital Securities Company. The total contract value of the program, which spans over two years from 2019 to 2020, reaches VND3.8 trillion.

* An Pha Constriction and Technique Company has offloaded two million shares of Cotec Investment and Land-house Development Company (CLG), cutting its ownership to over 102,000 shares, equal to a 0.48% stake. Meanwhile, an individual investor named Nguyen Si Quoc has become a major shareholder at CLG for acquiring 2.5 million CLG shares, or an 11.8% stake in the enterprise.

* Industrial Urban Development Company No.2 (D2D) has announced December 11 as the ex-dividend date to advance a 2018 dividend in cash at 15%.

* Southern Waterway Corporation (SWC) failed to buy any treasury shares out of the total volume of over 6.7 million shares registered for purchase between October 19 and November 16, explaining that market developments were unfavorable.

* Vicostone Company (VCS) will pay the second round dividend of VND1,OOO per share for 2018 on the record date of December 7. The company will make the payment on December 17.

* Nguyen Thi Bich Dao, wife of Deputy General Director Tu Tien Phat of Asia Commercial Bank (ACB), will be buying 300,000 shares of the lender within one month starting November 29. At present, Dao has no shares at ACB.


Category: Business, Vietnam

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