BIDV Securities lowers foreign stake

tohang

The BIDV Securities Corporation (BIC) has reduced the foreign ownership limit in the company's capital from 49 per cent to 21.5 per cent.

HA NOI (Biz Hub) — The BIDV Securities Corporation (BIC) has reduced the foreign ownership limit in the company's capital from 49 per cent to 21.5 per cent.

The decision aims to ensure that foreign investment in the company will not exceed 49 per cent of the capital after the Ministry of Finance asked BIC to issue additional 41 million shares – equal to 35 per cent of the company's capital - for Hong Kong-based Fairfax Asia Limited.

The share issuance was made in order to raise the company's chartered capital from VND762.2 billion (US$33.8 million) to VND1.17 trillion ($51.9 million) and the foreign investor will be able to join the company's board of directors.

Fairfax Asia Limited is an insurance firm founded in 2002 in Hong Kong as a member of Canada-based Fairfax Financial Holdings Limited.

BIC rose 0.4 per cent to close at VND23,600 at the end of yesterday trading session.— VNS

  • Share:

see also

Market cautious as liquidity drops significantly

Market cautious as liquidity drops significantly

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,272.87 points, down 1.17 points or 0.09 per cent. Market breadth remained negative, with 171 declining stocks, 149 advancing and 49 unchanged. Liquidity saw a sharp decline to...
Việt Nams aviation industry soars towards growth

Việt Nam's aviation industry soars towards growth

Vietnamese airlines are proactively gearing up, expanding their fleets and launching early ticket sales for the Lunar New Year to cater for the rising demand.
Blue chips drive strong market rally, VN-Index surpasses 1,270 points

Blue chips drive strong market rally, VN-Index surpasses 1,270 points

The VN30-Index, which represents the 30 largest stocks by market capitalisation on the HoSE, soared by 19.21 points, or 1.45 per cent, to settle at 1,342.48 points. Remarkably, all 30 stocks in the VN30 basket closed in positive territory.
Finance ministry announces five credit rating enterprises

Finance ministry announces five credit rating enterprises

One more company has been granted the certificate of eligibility since August.
Market mixed as foreign bloc restarts net buying

Market mixed as foreign bloc restarts net buying

Market breadth remained negative, with 184 stocks declining, 143 advancing and 44 unchanged. Liquidity surged to VNĐ15.9 trillion (approximately US$624.35 million), marking a 29.2 per cent increase compared to the previous session.