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Foreign investor bids for more REE stake

Dec 22nd at 08:06
22-12-2020 08:06:22+07:00

Foreign investor bids for more REE stake

Platinum Victory Pte Ltd has bid for more than 16 million shares at Refrigeration Electrical Engineering Corporation (REE) in one month from Thursday.

 

The transactions will take place between December 24 and January 22, 2021. Platinum Victory holds more than 92.35 million shares at REE, equal to 29.7 per cent of all voting shares.

If the deal is done, the fund will raise its stake to 108.5 million shares or 34.99 per cent stake.

Platinum Victory had previously made offers to REE shareholders but the deals were called off because of the market condition and small package of shares bid by the fund.

REE shares, listed on the Ho Chi Minh Stock Exchange as REE, gained 1.1 per cent to VND47,100 apiece on Monday. The shares have gained nearly 48.6 per cent since late July.

In January-September, REE earned nearly VND4 trillion worth of total net revenue, up 11.5 per cent on-year.

The company logged a post-tax profit of VND1.05 trillion in the nine-month period, down 15.5 per cent year-on-year and 35 per cent lower than the full-year target. 

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