SCIC to divest $8.1 million from Dabaco

Thursday, Oct 16, 2014 14:03

SCIC's divestment from dabaco is said to be included in the corporation's investment portfolio restructure. – Photo CafeF

HA NOI (Biz Hub) – The State Capital Investment Corporation (SCIC) has announced that it will divest from Dabaco Group JSC by selling six million shares, equivalent to 9.56 per cent of its capital.

The divestment is scheduled to take place between October 17 and November 14 with the purpose of restructuring SCIC's investment portfolio.

Based on Dabaco's share price of VND28,900 (US$1.36) per share on October 15, the six-million-share package is worth more than VND173 billion ($8.1 million).

Business news website CafeF quoted from Dabaco's financial statement that the group's net income stood at VND43 billion ($2 million) in the third quarter of this year, a 22 per cent decrease year on year. The company's accumulated net income in nine months was VND95.4 billion ($4.48 million), a drop of VND3 billion ($141,000) year on year. – VNS

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