Viettel collects VND527.7 billion ($22.77 million) from the divestment of Viettel Post (VTP)

Nov 13th at 08:24
13-11-2020 08:24:37+07:00

Viettel collects VND527.7 billion ($22.77 million) from the divestment of Viettel Post (VTP)

Viettel has successfully sold 4.98 million shares of Viettel Post at an auction on the Hanoi Stock Exchange on November 11, collecting VND527.7 billion ($22.94 million) in proceeds.

Viettel collects VND527.7 billion ($22.77 million) from the divestment of Viettel Post
Viettel has reduced its ownership in Viettel Post by 8 per cent

12 organisations and one individual have won the auction with the average price of VND105,907 ($4.60) per share. 3.8 million out of 4.98 million shares were sold to foreign investors.

With the divestment, Viettel Post has reduced its ownership ratio at Viettel Post from 68 to 60 per cent.

Set up in 1997, Viettel Post operated in the express delivery field. After 20 years of operation, it has become the second-largest contender in the Vietnamese postal industry, after Vietnam Post. Its network extends to all 63 cities and provinces nationwide. It has more than 2,200 post offices or shops and more than 6,000 transaction offices.

In the first nine months of this year, Viettel Post achieved a revenue of VND11.6 trillion ($504.35 million), double last year's period. Its profit also increased by 15 per cent to VND307 billion ($13.35 million). In 2020, the company aimed to achieve a revenue of VND19.2 trillion ($834.8 million) and profit of VND459 billion ($19.96 million).

VIR





NEWS SAME CATEGORY

Switching listing helps banks boost stock value

Local banks are rushing to switch their listings from the UPCOM or the HNX to the major trading bourse HOSE, which will help increase their stock value...

Viettel to sell 11 per cent stake in Viettel Construction (CTR)

Military-run telecom giant Viettel plans to divest an 11 per cent stake in its affiliate Viettel Construction Joint Stock Corporation (CTR) via a public auction at...

Local tyre producers (CSM) suffer small impact from US tariff

Local companies do not have to worry about a preliminary anti-subsidy tariff imposed by the US Department of Commerce on car and truck tyres from Viet Nam...

Japan's JFE acquires shares of BIWASE to strengthen foothold in water treatment

JFE Engineering Corporation from Japan has signed an MoU for business alliance with Binh Duong Water Environment JSC (BIWASE) and acquired 3.87 per cent of its...

Vinaconex (VCG) to buy back 44 million shares

Viet Nam Construction and Import - Export Joint stock Corporation (Vinaconex) plans to buy back 44.17 million treasury shares by mid-December.

VietCapital Securities (VCI) to offer $51.6 million bonds

VietCapital Securities Corp (VCSC) will sell VND1.2 trillion (US$51.6 million) worth of bonds in 2020-21 to fund business activities and restructure debts.

Renewable energy sector may reach $714 billion: VietinbankSC

The value of the Vietnamese renewable energy sector may reach US$714 billion and it may keep developing for at least 25 years, Vietinbank Securities JSC said in a...

Phat Dat Real Estate Development Corporation (PDR) proposed to MSCI Frontier Market 100 index

Recently, world-leading index research and analysis organisation Morgan Stanley Capital International (MSCI), has proposed the inclusion of Phat Dat Real Estate...

Top companies see profit slide in 9 months

Forty of the largest companies by market capitalisation posted a 15 per cent annual decline in total pre-tax profit, which fell to VND162.8 trillion (US$7.02...

Novaland Group (NVL) achieved 90 per cent of full-year income target

No Va Real Estate Investment Corporation (Novaland) has achieved 90 per cent of its full-year net income target within nine months of the year 2020.


MOST READ


Back To Top