Ban Viet Securities Co (VCSC) on Wednesday announced its plan to sell all 29.42 million shares in Development Investment Construction JSC (DIG), equivalent to 9.59 per cent of DIG.
The transaction is expected to take place from November 26 to December 25, via put-through or order matching method.
DIG ended Wednesday at VND21,100 per share. At this price, VCSC is expected to collect VND630 billion (US$27.3 million), significantly higher than VCSC’s initial investment of VND495.6 billion.
Taekwang Vina previously sold more than 28 million DIG shares and was no longer a major shareholder from October. Before that, Khahomex also sold 16 million DIG shares after more than one year as a major shareholder.
In November, DIC approved the plan to sell 8.26 million treasury shares to supplement capital for production and business activities. The transaction, conducted via order matching and put-through methods, is expected to be completed in the fourth quarter of this year.
In the first nine months of 2020, DIG’s net revenue reached VND1.87 trillion, up 44.9 per cent year on year. Pre-tax profit reached VND172 billion and after-tax profit was VND131.2 billion, up 40.5 per cent over the same period in 2019.
In 2020, DIC aims to achieve VND2. trillion in revenue and VND650 billion in pre-tax profit. In the first nine months of this year, the company achieved nearly 75 per cent of the revenue plan, but it still fell short of the profit target assigned. — VNS
- Him Lam Land acquires 21.5 per cent of DIC Corp
- Khahomex was fined for incorrectly reporting the results of selling nearly 16 million DIG shares
- VietCapital Securities to offer $51.6 million bonds
- Major shareholder Transimex wants to withdraw all 17 million TMS shares when the price increases
- Dragon Capital no longer a major shareholder in Military Bank
- South Korea fund sells 1.47 million shares of steel firm
- Finance last week: Ministry of Construction collected nearly 4,000 billion VND from divestment, GVR wants to sell all SIP shares
- Organisations rush to sell Sacombank shares to retrieve debts
- Major shareholder to sell entire stake in steel giant Hoa Sen