Business Briefs May 19, 2017
* Transport & Industrial Investment and Development Company (TCD) will begin trading nearly 32.5 million shares on theHCMCitymarket on May 26 at the starting price of VND16,000 each. The enterprise operates in infrastructure and project development, stone processing, farm produce trading and production and international manpower supply. In 2017, the enterprise targets to gain VND897.5 billion in revenue and pay dividend for shareholders at 10-12 percent.
* Vietnam Investment Limited has registered to sell over 1.4 million shares of Khang Dien House Trading and Investment Company (KDH), or a 0.62 percent stake in the enterprise, within around one month starting from May 22 while Vietnam Investment Property Limited will be offloading 550,000 KDH shares.VietnamInvest- ment Property Limited now holds a 1.49 percent stake at KDH, or over 3.48 million shares.
* Thai Hung Trading Joint Stock Company is seeking to buy seven million shares of Vietnam-Italy Steel Company (VIS), or a 14.2 percent stake, from now to June 15 at VND25,000 each. If the transaction is done, the investor will spur its ownership from 50.98 percent to 65.2 percent. In October 2016, Thai Hung Company became the largest shareholder at VIS by acquiring 12.8 millionVISshares to raise its stake to 50.98 percent, or over 25 million shares.VISreported VND32.1 billion in net profit in the first quarter of 2017, up 47 percent year-on-year.
* Due Quan Investment and Development Company (FrM) made a pre-tax profit at VND 12.5 billion on revenue ofVND240.7 billion in the first quarter of2017. The company targets VND14.1 billion in net profit on VND273.7 billion of revenue in the second quarter. FrM also plans to invest in NewcityThai Binh real estate project. The company will start building infrastructure of the project in the third quarter, said Viet Capital Securities Company.
* Tan Binh Import-Export Corporation (TIX) has decided to divest its 1.9 million shares in G.P Paper Joint Stock Company.
* Ha Tay Pharmaceutical Company (DHT) has chosen May 23 as the ex-dividend to issue nearly 6.3 million shares for shareholders at a I-for-I ratio, doubling its chartered capital to nearly VND 126 billion. This year, DHT targets around VNDI trillion in revenue and VND45 bil- lion in pre-tax profit, down 13 percent and 33 percent versus 2016 respectively.