Business News in Brief

Societe De Bourbon Tay Ninh (SBT) announced that it successfully sold 3.48 million treasury shares out of 4.5 million treasury shares at VND12,597 per share, bringing in VND43.8 billion. After the transaction, SBT still has 4.99 million treasury shares.

Kinh Do Corporation (KDC) will issue 40 million shares to its strategic partners at 20 percent lower than market price and change plan to issue 42.53 million bonus shares to its existing shareholders at a ratio of 5:1 from earlier 33 million shares.

Hung Vuong Joint Stock Corporation (HVG) announced that it will hold an extraordinary general meeting on December 6 to ask for shareholders’ opinion to issue 30 million shares for Singaporean investors at the lowest price of VND30,000 per share. After the issuance, HVG will have a surplus of US$30 million and a charter capital of VND1.5 trillion, of which foreign strategic partners hold 20 percent stake.

Nam Long Investment Corporation (NLG) offered to sell 25.5 million shares, or 26.7 percent stake, to eight foreign investors and five local ones from VND18,000 to VND22,000 per share to collect VND550-560 billion to add to its working capital. In the first three quarters of 2013, the company got net revenue of VND353.3 billion and net profit of VND36.1 billion.

Sieu Thanh Joint Stock Corporation (ST8) will close the list of shareholders on November 20 to advance dividends for the second term of 2013 by shares at a ratio of 5 percent and in cash at a ratio of 10 percent in the last quarter of this year. This year, ST8 plans to pay dividends at a ratio from 10 percent upwards.

Truong Long Auto & Technology Joint Stock Company (HTL) announced that Thai company – Chairatchakarn – will buy more than 2.2 million of HTL, or 27.55 percent stake from its chairman (0.93 million shares), a shareholder (0.51 million shares), and Sumitomo Corporation (0.76 million shares).

State Securities Commission of Vietnam (SSC) has fined Artex Securities Company VND20 million, and Tri Viet Securities Company VND10 million for submitting half-year financial statements and financial safety ratio reports late. Earlier, SSC fined Phan Hoang Tuan VND40 million for not reporting the reason he failed to sell all 150,000 shares of Can Tho Mineral & Cement Joint Stock Company (CCM), and Hoang Thi Hien VND40 million for not announcing the purchase of 138,900 shares of Tien Son Ha Tay Cement JSC (TSM).

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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