A Vicostone CLC block plant in Hà Nội. — Photo www.lightconcrete.netViet Nam News HÀ NỘI — Vicostone Joint Stock Company (VCS) plans to buy back 3.2 million shares, equivalent to 2 per cent of its chartered capital to serve short-term and long-term restructuring plans. The transaction is expected to be executed via order-matching or negotiation. Vicostone’s shares, traded on the Hà Nội Stock Exchange under the code VCS, were traded at around VNĐ70,700 (US$3.02) per share on Tuesday.At this price, Vicostone will spend about VNĐ236 billion to buy these shares. VCS shares have fallen sharply by 35 per cent since the beginning of the year, from VNĐ113,400 per share to around VNĐ70,000 per share at present. On September 9, 2014, Vicostone bought back nearly 10.6 million shares. Almost two years later, on May 26, 2016, the company completed the allocation of all these treasury shares to existing shareholders. At … [Read more...] about Stock prices plummet, Vicostone plans to buy 3.2 million treasury shares
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Vietcombank's recent attemp to divest from Eximbank saw poor results On October 17, the Hanoi Stock Exchange (HNX) announced cancelling the auction of a batch of Eximbank (EIB) stocks owned by Vietcombank because no investor registered. This was Vietcombank’s second failure as on October 15, the bank also saw flat results in the auction of Military Bank (MBB) stock. The bank’s capital divestment from EIB and MBB were to match the State Bank’s Circular 36/201/TT-NHNN that regulates minimum safety limits and ratios in banking operations because Vietcombank’s current ownership in these two banks are above the regulated 5 per cent. Particularly, at the MBB stock auction, Vietcombank offered to sell 53.4 million shares at the starting price of VND19,641 ($0.85) apiece. After the deadline of placing deposits to purchase stocks, only 10 investors (five corporate and five individual) registered to buy a total of 5.9 million shares, equal to 11 per cent of the total … [Read more...] about Bank stock auctions less charming than before?
Petrolimex promised that its stock price will not be lower than VND39,000 ($1.7) per share.Besides, it will not divest entirely from its insurance, finance, and banking arms. On March 29, 2017, at the meeting with investors before listing on the Ho Chi Minh City Stock Exchange (HOSE), despite not mentioning the exact price, Petrolimex’s representative said that the firm will try to ensure investors’ benefits. Bui Ngoc Bao, chairman of Petrolimex, said that after being listed on HOSE, the firm’s value will depend on the market. “As the firm’s managers, we will try to ensure our investors’ benefits, and the listed price will not be lower than the price offered for our strategic shareholder JX Nippon Oil & Energy Corporation (JX NOE),” said Bao and added that the initial offering price will be publicised after the announcement of the exact listing day. “The reference price on the first trading session of Petrolimex will not be lower … [Read more...] about Petrolimex promises HOSE price no lower than $1.7
Hanoi (VNA) - Local shares declined on November 14 on the two national stock exchanges as foreign investors increased selling caused by uncertainty on the fate of the Trans-Pacific Partnership (TPP). The benchmark VN-Index, the measure of 314 stocks on the HCM Stock Exchange, edged down 0.9 percent to close at 673.1 points. The index had gained 1.9 percent last week. On the Hanoi Stock Exchange, the HNX-Index tracking 377 stocks inched down 0.3 percent to 80.9 points. It increased 0.9 percent in the previous week. Foreign investors were net sellers in HCM City’s market for a total value of 272 billion VND (12.2 million USD). They sold shares worth 522 billion (VND), making up 21.2 percent of total trading value in the market, while picking up only 250 billion VND worth of net buy value. Heavy selling pressure dragged down stock prices of large-cap companies. Private equity business Masan Group (MSN) plunged 4 percent. Dairy giant Vinamilk (VNM) slipped 2.6 percent. Real estate … [Read more...] about Bản in : Stocks slip as foreigners sell shares
Hanoi (VNA) - Vietnam's largest brewer Sai Gon Alcohol, Beer and Beverage Corporation (Sabeco), known for its iconic Saigon and 333 brands, has filed a listing application to the HCM Stock Exchange, eight years after its initial public offering in January 2008. The company's decision took into account its listing standards, market size and reputation, liquidity and investor interest of the two national stock exchanges, in which the HCM Stock Exchange gains an upper hand over the Hanoi Stock Exchange. The listing timetable, as well as the reference price for the first trading day remains unclear, but Sabeco expects to finalise these issues by the end of this month. Late in September, the Ministry of Industry and Trade approved Sabeco's listing on the HCM City's exchange and requested that the beer producer select a consulting firm to perform the listing procedures. The listing of local beer producers has attracted big investors' attention over the last two months after the … [Read more...] about Sabeco applies for listing on HCM City stock exchange