A customer reads the information on telecom services provided by FPT Telecom. FPT Corporation has bought more than 1.5 million shares of the company to increase its ownership ratio. — Photo fpt.com.vn

HA NOI (Biz Hub) — FPT Corporation announced on August 20 that it has bought more than 1.5 million shares of FPT Telecom to increase its ownership ratio in the company.

The purchase raises its own stake in the firm from 41.43 per cent to 42.63 per cent. Earlier, on August 14, FPT had bought more than one million shares to increase its holding from more than 50.3 million shares (equivalent to 40.43 per cent stake) to more than 51.4 million shares (equivalent to 41.31 per cent stake). The decision to buy the shares at VND52,000 ($2.47) per share was approved by its management board on August 4.

At the moment, FPT is the second largest shareholder of FPT Telecom Company, after the State Capital Investment Corporation (SCIC) which holds 50 per cent of the shares.

In the first seven months of 2014, FPT earned VND1,179 billion ($56.1 million) in after-tax profit, equivalent to the profit made in the same period last year. Its after-tax profit for shareholders of the parent company was VND887 billion ($42.2 million), a one per cent increase compared with that in the first seven months of 2013. — VNS