Seafood processor sells shares in affiliates
Seafood processor sells shares in affiliates
Seafood processor Hung Vuong Corp (HVG) announced the completion of its share sales in its three subsidiary companies, which brought the company a total of VND107.8 billion (US$5.2 million).
HVG sold all of its 90 per cent stakes, worth VND37.8 billion ($1.8 million), in An Lac Co Ltd, reduced holdings in Hung Vuong Vinh Long Co Ltd from 90 per cent to 31.7 per cent, earning VN35 billion ($1.7 million) and decreased its stakes in Hung Vuong Sa Dec Food Processing Plant from 70 per cent to 11.7 per cent, fetching another VND35 billion ($1.7 million).
All transfer values, realised in cash, were equal to the book value of these investments in the financial statement. By the end of the third quarter, HVG's available cash totalled VND541 billion ($25.9 million)
vietnamnews
