Sweet move by sugar giant
This represents the company’s first selling of treasury stocks after its continual buying since January 2010. At that time, it holds more than 673,000 treasury stocks.
The decision comes two weeks after former Bourbon Tay Ninh chairwoman Huynh Bich Ngoc resigned from the board. She quit because she was too busy to attend regular board meetings, said Bourbon Tay Ninh’s general director Nguyen Ba Chu. Thai Van Chuyen has been appointed as a new board member.
Ngoc stepped down as the company’s chairwoman in April and her daughter Dang Huynh Uc My was elected during the April annual general meeting to replace her.
The market price of the company’s shares was around VND14,000 (67 cents) last week. If the treasury stocks are sold at the level, the company will collect VND196 billion ($9.4 million).
By the end of September, the company’s average price to buy the 14 million treasury stocks was VND12,330. Last week’s Bourbon Tay Ninh market price is 13.5 per cent higher than that average price.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:
Related Contents
Latest News
More News
- Citi report delivers insights to market opportunities with AI (August 29, 2024 | 11:50)
- Credit continues to flow into real estate sector (August 29, 2024 | 11:49)
- Driving ASEAN’s supply chains through connectivity (August 28, 2024 | 10:06)
- Banks sharpen focus on scale-up of sustainability (August 28, 2024 | 08:00)
- Lenders still most active in corporate bond issuance (August 27, 2024 | 18:00)
- Vinpearl bags $150 million from international bonds in Singapore (August 27, 2024 | 17:21)
- Tech securities companies garner upward momentum (August 27, 2024 | 15:31)
- New policy promotes green banking development in Vietnam (August 27, 2024 | 09:08)
- Reference exchange rate up at week’s beginning (August 27, 2024 | 08:49)
- Vietnam should learn from international experience before raising beverage tax (August 27, 2024 | 08:00)
Mobile Version