Saturday, April 27,2024 - 6:55 GMT+7  Việt Nam EngLish 

Thai firm owns half of Binh Minh Plastics 

 Tuesday, March 13,2018

AsemconnectVietnam - hailand’s Nawaplastic Industries (Saraburi) Co Ltd has spent over VND2.33 trillion acquiring nearly 24.2 million shares in Binh Minh Plastics Joint Stock Company (BMP), thus upping its stake at the Vietnamese company to almost 50%.

TThe shares were sold by the State Capital Investment Corporation (SCIC) at an auction last Friday on the Hochiminh Stock Exchange (HOSE). The Thai firm and a local individual participated in the auction. 

Nawaplastic Industries (Saraburi) bought around 24.2 million BMP shares though it registered to buy all the offered shares at VND96,500 per share, the price offered by SCIC. Meanwhile, the local investor bought 20,000 shares at the same price.
The BMP share sale generated over VND2.33 trillion in revenue for the State.
Nawaplastic Industries (Saraburi) is a subsidiary of SCG, which has been present in Vietnam since 1992 with 23 units active in three main areas – cement/building materials, packaging and petrochemical. Its previous stake at BMP was 20.4%.
Nawaplastic Industries (Saraburi) now owns 49.91% of BMP, which has raised the foreign ownership cap to 100%.
In a related development, SCG recently started work on Vietnam’s first integrated petrochemical complex worth US$5.4 billion in Long Son in the southern province of Ba Ria-Vung Tau, around 100 km southeast of HCMC.
Source: Thesaigontimes.vn

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