Bamboo Capital chairman to raise stake to 20 per cent

Wednesday, Nov 13, 2019 08:01

A Bamboo Capital solar power project in the southern province of Long An. — Photo

Bamboo Capital chairman Nguyen Ho Nam plans to buy nine million more shares in his company between November 14 and December 13 to raise his stake to 20 per cent.

Nam currently holds 12.9 million shares in Bamboo Capital. If successful, the deal will help increase his ownership to 21.9 million shares.

The chairman had previously registered to buy 10 million shares between October 11 and November 9 when he held 10.9 million shares in the company.

Deputy General Director Pham Minh Tuan has also signed up to purchase 250,000 shares in the same period.

Tuan holds no shares at the moment.

In the first nine months, Bamboo Capital earned VND942 billion (US$40.6 million) in total revenue, up 13 per cent year-on-year.

Its post-tax profit rose 6.5 times to VND128 billion thanks to asset sales. The figures represented 32 per cent and 41 per cent of its annual targets.

The firm shares, listed on the Ho Chi Minh Stock Exchange as BCG, were up 2.8 per cent to end Tuesday at VND8,800.

The company specialises in agriculture, infrastructure and real estate, trading and renewable energy.

Its solar power projects have been constructed in the southern provinces of Long An and Ben Tre. — VNS

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