Stock market briefs

07-Aug-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Real estate developer SonKim Land Corporation has raised $121 million from a consortium of investors led by EXS Capital, ACA Investments and Credit Suisse AG’s Singapore branch, Vietnamplus website reported. It mobilised $37 million in 2013 and $46 million in 2016. In the latest fundraising round, SonKim Land wants to continue developing properties in Vietnam, including luxury residential, commercial and hospitality developments in HCM City.

HANOI The Vietnam Electricity Group (EVN) will divest all its capital from the EVN Finance Company (EVF) by auctioning 18.75 million EVF shares, equal to 7.5 percent of EVF’s charter capital, on August 23. With the initial price of VND13,480, EVN expects to earn more than VND252 billion from the deal. ABBank is now the biggest shareholder of EVF with an 8.4 percent stake.

HCM City Phat Dat Real Estate Development Company (PDR) plans to issue VND225 billion worth of inconvertible secured bonds, which will come with a one-year term and an expected coupon of 9.5 percent a year. Interest will be paid every three months. PDR expects to issue the debt in the third quarter for less than 100 investors, excluding professional securities investors. This is the company’s sixth bond sale this year, with the lowest interest rate in the issuing periods.

HCM City An Phat Bioplastics Company (AAA) saw its second quarter revenue growing nearly 5 percent year-on-year to VND2.43 trillion. The company’s revenue growth was attributed to higher incomes from leasing land and selling assets while the cost of selling goods was cut in the second quarter.

HCM City Sacombank (STB) is carrying out a July 22-October 19 promotion programme for individual customers who make deposits, use banking services, receive remittances, and access e-banking services. Clients will receive codes to enter a lucky draw at the end of the programme, which offers a Toyota car, and trips to the United States, Europe and Southeast Asia.

HCM City Vu Dinh Do, chair of Dong Nai Plastic Company (DNP), has acquired 500,000 DNP shares to spur his ownership to over 10.5 million shares, equal to 10.56 percent.


Category: Stocks, Vietnam

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