Quang Binh Import & Export (QBS) to divest entire capital in DAP-VINACHEM
Quang Binh Import & Export (QBS) to divest entire capital in DAP-VINACHEM
Quang Binh Import & Export JSC (QBS) plans to sell all its 22 million shares, equivalent to holding rate of 15.17 per cent, at fertiliser firm DAP-VINACHEM JSC (DDV). 
The transaction is scheduled to take place on February 21 to March 20 through order matching or put-through method.
QBS is expected to collect VND137 billion (US$5.9 million) from the sale.
On the stock market, shares of DDV closed on Friday at VND6,200 per share, down by 60 per cent compared to its peak in 2019.
In 2019, DDV earned nearly VND1.6 trillion in net revenue, down more than 29 per cent compared to 2018. Post-tax profit reached nearly VND6.3 billion, a drop of more than 97 per cent.
DDV is a joint stock company with 64 per cent of State capital held by the Viet Nam National Chemical Group (Vinachem) with a charter capital of VND1.42 trillion. The company operates in the field of fertiliser and chemicals production.
QBS’s net revenue in 2019 reached VND1.4 trillion, down nearly 35 per cent compared to 2018. Post-tax profit was negative VND177 billion, the first loss since 2012.
