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

Electricity stocks poised for growth following latest law revision

Electricity stocks poised for growth following latest law revision

One of the major highlights of the amended Electricity Law is the emphasis on market-driven pricing mechanisms for electricity sales, with state regulation to ensure fair competition. 
Market declines for the third consecutive session

Market declines for the third consecutive session

Market breadth remained negative, with 182 stocks falling, 117 gaining, and 62 remaining unchanged. Liquidity ped slightly, reaching VNĐ13.5 trillion (US$530.8 million), down 11.7 per cent compared to the previous session.
VPBankS to distribute SSI Asset Management mutual funds

VPBankS to distribute SSI Asset Management mutual funds

VPBank Securities Joint Stock Company (VPBankS) will distribute mutual funds managed by SSI Asset Management Company Limited following an agreement they signed on December 9.
Tech stocks surge amid market uncertainty in Nov

Tech stocks surge amid market uncertainty in Nov

Việt Nam’s IT sector is entering a golden period, supported by FDI inflows, favourable trade policies and a rapidly growing domestic market. 
Market continues slight correction as VN-Index slips below 1,270 points

Market continues slight correction as VN-Index slips below 1,270 points

Market breadth was negative, with 183 stocks declining, 120 advancing, and 62 remaining unchanged. Liquidity saw a modest uptick, reaching VNĐ15.3 trillion (US$602.9 million), up 6.2 per cent from the previous session.