Nawaplastic lifts ownership in BMP to over 54.39 per cent
 |
| Nawaplastic has been gunning for BMP for a while now |
According to a disclosure by BMP, the transaction occurred between June 22 and July 5. Nawaplastic spent VND60 billion ($2.6 million) on the deal.
The share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions.
Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying only 1.69 million shares as BMP did not match Nawaplastic’s target price.
Established in 1977, BMP has cemented its position as the country’s leading manufacturer and trader of plastic pipes and fittings.
Acquiring BMP serves for SCG’s petrochemical project in Vietnam. According to a representative of Ho Chi Minh Securities Corporation, BMP is considered a key part in SCG's petrochemical strategy in Vietnam. Notably, according to plan, once SCG’s $5.4 billion Long Son Petrochemical Complex comes into operation in 2023, BMP will become the plastic supplier of this complex.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:
Related Contents
Latest News
More News
- MoIT proposes scheme to boost renewable energy procurement (April 17, 2024 | 14:05)
- Suitable roadmaps can help SMEs in the ESG mission (April 17, 2024 | 08:56)
- Low emissions to stem from advances in rice (April 17, 2024 | 08:49)
- Lotte Rental enters Vietnam's car rental market (April 16, 2024 | 18:46)
- Samsung returns to top of the smartphone market: industry tracker (April 16, 2024 | 18:00)
- VitaDairy partners with KPMG Vietnam on digital transformation (April 16, 2024 | 16:38)
- Boeing says testing of 787 proves aircraft is safe (April 16, 2024 | 16:00)
- PwC rejects allegations on Evergrande audit (April 16, 2024 | 14:39)
- VinFuture Fund launches InnovaConnect 2024 event series (April 16, 2024 | 09:00)
- Vietnam’s agricultural products appeal to foreign customers (April 15, 2024 | 17:04)
Mobile Version