Business Briefs 30 October 2019

30-Oct-2019 Intellasia | | 9:31 AM Print This Post

* Vietnam Electricity Group (EVN) yesterday divested from Thuan Binh Wind Power JSC (TBW) by auctioning more than four million shares, or a 25% stake, with the reserve price of VND17,940 per share. The auction was attended by one organizational investor and two individual investors, registering to buy over 4.2 million TBW shares, 1.04 times higher than the offered volume. Thus, EVN sold the entire offered shares at an average price of VND 17,946 each and got VND73.1 billion.

* Fecon Mining Joint Stock Company (FCM) has reported that its revenue in the third quarter of this year reached VND175 billion, up 20% over the same period last year, and after-tax profit VND15.4 billion, up 34%. However, in January-September, FCM’s revenue was down 6% year-on-year at VND572.6 billion, while its after-tax profit was VND42.4 billion, rising 117% and 21 % higher than the full-year target.

* Dragon Capital has transferred nearly two million shares of Mobile World Investment Corporation (MWG) to Arisaig Asia Consumer Fund Limited, according to the Vietnam Securities Depository Center. Dragon Capital on September 27 sold more than 1.2 million MWG shares to Ntasian Emerging Leaders Master Fund.

* HoaBinh Construction Group Joint Stock Company (HBC) has started work on the Swanbay La Maison project on Dai Phuoc Island in the southern province of Dong Nai. Vina Dai Phuoc Corporation has chosen HBC as the main contractor of the project to develop 297 out of 546 villas. The package worth over VND736 billion is expected to be completed in 13 months. HBC has also begun work on C.T Group’s LeMan Cap resort and spa project in Ba Ria-Vung Tau Province. The group will be responsible for the VND100-billion package on the project’s structure, electromechanics and furniture and will execute the package in eight months.

* The board of IDJ Vietnam Investment JSC (IDJ) has approved the issuance of four bond packages in private placements, with each valued at VND50 billion.


Category: Business, Vietnam

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