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Nawaplastic to boost holdings in Bình Minh Plastic to more than 50%

Nawaplastic Industries wants to buy an additional  八 一 八, 六0 九 shares of Bình Minh Plastics JSC. — Photo cafef.vn

HÀ NỘI — Nawaplastic Industries Co Ltd, a subsidiary of Thailand’s SCG, has registered to buy an additional  八 一 八, 六0 九 shares of Bình Minh Plastics Joint Stock Company (BMP).

The trades are expected to be executed by agreement and order matching from April  四 to May  三,  二0 一 八.

Currently, Nawaplastic owns more than  四0. 八 四 million BMP shares, equivalent to  四 九. 八 九 per cent of the company’s stake.

If the transaction succeeds, Nawaplastic will raise the ownership of BMP shares to more than  四 一. 六 六 million shares, equivalent to  五0. 八 九 per cent, and dominate Bình Minh Plastics.

Prior to that, The Nawaplastic had won the bid to buy a total of  二 四. 一 三 million BMP shares owned by the State Capital Investment Corporation (SCIC). The Việt Nam Securities Depository has also completed procedures to transfer the ownership of these shares.

Prior to this, Nawaplastic Industries was BMP’s major shareholder holding more than  一 六. 七 million shares, equivalent to  二0. 四 per cent of total shares of Bình Minh Plastics.

On the market, BMP shares have fallen quite sharply and are trading around VNĐ 七 一,000  (US$ 三. 一 一) per share. — VNS