MPC, PHS announce delisting

Minh Phu Seafood Corporation (MPC) and Phu Hung Securities Corporation (PHS) announced cancellation of listing as follows:

MPC will hold an extraordinary general meeting on January 4, 2014 to approve cancellation of listing on the Ho Chi Minh City Stock Exchange and buy back 16.25 million shares from minor shareholders at VND20,000-30,000 per share.

The company will cancel listing to seek for another strategic partner and mobilize capital for restructuring. In first nine months, the company profited VND155.6 billion, up 97 percent year-on-year, but only met 54 percent of this year’s plan.

PHS approved delisting of 34.75 million shares on the Hanoi Stock Exchange. PHS has been put under supervision since February 25, 2013 for running at a loss for two consecutive years.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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