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Ho Chi Minh Metropolis Infrastructure Funding Joint Inventory Firm (CII) plans to promote one other 10 million shares of Nam Bay Bay Funding Joint Inventory Firm (NBB) below settlement methodology.
If the transaction is profitable, CII will cut back its possession from 47.5 million shares of NBB, equal to 47.5 per cent of capital, to 37.5 million shares, or 37.5 per cent of capital. The anticipated implementation time is from July 7 to August 5.
Beforehand, from June 6 to July 4, CII accomplished the sale of 1.5 million NBB shares out of 10 million registered models, thereby lowering its possession to 47.5 million shares as current. The rationale for not finishing the transaction was that the anticipated promoting value had not been reached.
As of December 31, 2021, CII is the mother or father firm of NBB, holding 65.4 per cent of the constitution capital. Nonetheless, because the starting of 2022, CII has constantly bought 17.8 million NBB shares to cut back its possession to the present 47.5 per cent, thereby turning NBB into an affiliate firm.
Since CII’s divestment, NBB’s inventory has constantly plummeted, now buying and selling round VND15,800 per share, down 73.5 per cent from the historic peak of VND59,700 in early January.
Within the first quarter, CII recorded internet income of VND711.7 billion (US$30.4 million), down 26.1 per cent over the identical interval final 12 months. Though income decreased, revenue after tax reached VND685.2 billion, 14 occasions increased than within the first quarter of 2021.
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