Stock market briefs

06-Jul-2018 Intellasia | The Saigon Times | 6:02 AM Print This Post

The State Securities Commission has given its approval to Hau Giang Pharmaceutical Company (DHG) to remove its foreign ownership limit (FOL). Following this, the company has lodged a request with the Vietnam Securities Depository to update its FOL. According to Viet Capital Securities Company, this move could be a share price catalyst for DHG, given the possibility of strategic investor Taisho further consolidating its ownership in the firm. Recently, Taisho purchased an additional 650,000 DHG shares via put-through to raise its ownership to 24.94 percent.

HCM City Century Synthetic Fiber Corporation (STK) estimated its net profit at VND43 billion on revenue of VND591 billion in the second quarter of 2018, up by 79 percent and 26 percent, respectively, year-on-year.

HCM City Saigon Real Estate Joint Stock Company (SGR) will make a dividend payment for 2017 at a ratio of 25 percent on the record date of July 20. The firm will spend VND39.5 billion of the amount to pay a dividend of VND1,000 per share and issue 5.93 million additional shares for a share dividend at a ratio of 15 percent. The firm expects a net profit of VND216 billion in 2018, up by 44 percent from last year. SGR expects to hike its 2018 investment by 5.8 times to VND2.39 trillion and targets a dividend payment at a ratio of 25 percent for this year.

HCM City Nam Viet Company (ANV) has announced plans to sell its entire stake of 90.91 percent in Bien Dong Seafood Company. The holding is valued at more than VND5.3 billion.

HANOI Dong Nai Plastic Company (DNP) will issue 6.5 million shares to make a dividend payment at a 12.997-for-100 ratio for 2017. The firm will also issue 21.5 million shares to its existing shareholders as a bonus at a 42.992-for-100 ratio and a selling price of VND10,000 each. After the issuance of shares, the firm expects to raise its registered capital to VND780 billion from the current VND500 billion.

HANOI Le Hai Doan, chair of HIPT Group Company (HIG), has acquired nearly 730,000 HIG shares to raise his ownership to more than four million shares, equivalent to a 20.94 percent stake. HIG shares are trading at some VND7,000 each on the market for unlisted public enterprises, or UPCoM.

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Category: Stocks, Vietnam

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