Stock market briefs

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

Taisho has announced a bid to purchase up to 9.2 million shares of Hau Giang Pharmaceutical Company (DHG), equivalent to a 7.06 percent stake, at a price of VND120,000 per share, as DHG’s foreign ownership limit was removed on Wednesday. If successful, this will raise Taisho’s ownership in DHG from the current 24.94 percent to 32 percent. The purchase is expected to be conducted within 30 to 60 days from the date of approval of the State Securities Commission.

HCM City Khang An Investment Real Estate Company (KAC) has received approval of its shareholders to issue 36 million new shares to spur its registered capital to VND600 billion from the current VND240 billion within the second half of this year. Of the amount, the firm will issue six million shares for bonus-giving at a 1-for-4 ratio and another 30 million shares for its existing shareholders at a 1-for-1 ratio at the selling price of VND10,000 each. The firm expects to invest the proceeds of VND300 billion from the share sales in its project in Dong Nai Province. From June 6, the Ho Chi Minh Stock Exchange had put the stock of KAC under special surveilance due to its violations of information disclosure rules.

HCM City DRH Holdings Company (DRH) will issue 2.2 million shares under an employee stock ownership plan at the selling price of VND10,000 per share by the third quarter of this year. DRH will also issue 9.8 million shares for bonus-giving at a 2-for-10 ratio. In the first quarter of this year, DRH earned a consolidated net profit of VND12.2 billion on revenue of VND14 billion, down by 7.8 percent and 1.8 percent year-on-year, respectively.

HCM City Sao Ta Foods Company (FMC) reported that its revenue rose by 25 percent year-on-year to $76.6 million in the first half of this year. FMC processed 7,787 tonnes of shrimp during this period, marking an 18.7 percent increase.

HANOI Lilama Corporation has announced plans to offload its entire eight million shares, or a 53.84 percent stake, in Song Vang Hydropower Company (SVH), from now until the end of this year. Earlier, PetroVietnam Power Corporation too had sold its entire 4.7 million shares of the hydropower firm. The SVH share price is trading at some VND10,000 each.

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Category: Stocks, Vietnam

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