VNH, HVG, VNM announce share sale, shareholder transaction

Viet Nhat Seafood Corporation (VNH), Hung Vuong Joint Stock Corporation (HVG), and Vietnam Dairy Products Joint Stock Company (VNM) announced share sale and transactions of shareholders as follows:

Nguyen Van Nhut, Chairman of VNH, will sell 2 million shares by January 10, 2014 to reduce ownership ratio to 25.28 percent. Recently, VNH signed an agreement with a Japanese partner, Internet Service, to produce seasonings. Therefore, Internet Service will possibly buy these shares.

HVG announced that it will sell 20 million shares to two foreign partners of Tael Fund Management Company at VND28,000 per share. An estimated VND560 billion collected from the share sale will be used to improve the company’s financial ability, expand business, and develop markets.

VNM announced that Vietnam Enterprise Investments Limited and Amersham Industries Limited will sell 13.4 million shares until January 9, 2014 to restructure their investment portfolio. If transactions are successful, holdings of Vietnam Enterprise Investments Limited and Amersham Industries Limited will be reduced to 10.7 million shares and 12.02 million shares, or 1.29 percent and 1.44 percent, respectively.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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