VPBank’s common stocks currently are nearly 2.53 billion shares. — Photo VPBankViet Nam News HÀ NỘI — Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has announced a temporary foreign ownership limit at 22.532 per cent of charter capital to prepare for a private placement. After completing the private placement, the bank will work with the Vietnam Securities Depository Centre to raise the ratio to a 30 per cent cap. VPBank hasn’t yet released details about the private placement. The foreign holding ratio at VPBank has fallen from 22.784 per cent to 22.532 per cent after the bank issued shares for its staff under the Employee Stock Ownership Plan (ESOP) last month. At the ESOP, the bank’s foreign employees received more than 1.3 million shares. During the annual general meeting of shareholders (AGM) in March, VPBank chairman Ngô Chí Dũng announced the bank was looking to raise capital through a private … [Read more...] about VPBank fixes foreign holding to prepare for private placement
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Shares in Vietnamese state-owned enterprises (SOEs) that were ordered to be privatized by the government were mainly sold to other state companies, or could not be sold at all, an official announced during a Friday meeting of the government's steering committee on business reform and development in the central province of Binh Dinh. Thoi bao Kinh te Sai Gon (Saigon Times Online) quoted Deputy Chief Doan Hung Vien of the government committee as saying that only 6.4 percent of over VND4.16 trillion (US$196.47 million) in SOE capital has been sold to private companies. The rest was transferred or sold to other state companies, the State Capital Investment Corporation, or labor unions and employees, Vien announced during a meeting on economic restructuring. After the reshuffle, the state continues to own 51 percent or more of the involved SOEs because the businesses could not sell as many shares as they'd expected to, Vien said. With the state continuing at helm, the SOEs failed to … [Read more...] about Vietnam SOEs fail to go private as shares remain in public sector
A miniature satellite made by Vietnamese telecom giant FPT will be launched into orbit on July 21, VnExpress reported Tuesday. F-1, a 1 kg CubeSat -- so called because they have a volume of exactly one liter or 1,000 cubic centimeters -- will blast off along with three other satellites aboard a rocket to be launched by the Japan Aerospace Exploration Agency from the Tanegashima Space Center south of Kyushu. The launch is to test the satellite's ability to orbit in space and send signals to the ground station. F-1 is also designed to take low-definition photos of the Earth (640x480). Once the satellite, produced by FSpace, FPT University's aerospace research laboratory, in cooperation with the US-owned Nanoracks Company, performs the designated functions, it will test more complicated functions like acting as an SMS entrepôt. Experts said if the trial launch is successful, FPT will become the first private company in Vietnam to make a satellite. Officials are excited … [Read more...] about Vietnam private satellite to be launched from Japan next month
Whether it is photos, personal status or unwanted comments, most Americans think people 'overshare' personal information online and a third admit not everything they post is true. A survey for Intel Corporation on mobile etiquette and digital sharing showed that 90 percent of Americans think too much is being divulged, and nearly half feel overwhelmed by all the all the data that is out there. One in five of the 2,008 people questioned by Ipsos Observer for Intel admitted that some of what they post is false. "People are still sorting through what does it means to share, who is the audience you are sharing with, what do those audiences want and how do they feel about things?" said Dr Genevieve Bell, the director of user interaction and experience at Intel Labs. "Those are the things that are really fluid. We are still sorting it out both at a personal level and a cultural level." For many, sharing online with smartphones, laptops, notebooks and tablets is easier than in person. … [Read more...] about Online sharing, how much is too much?
SHANGHAI/HONG KONG (Reuters) - Trading in shares of Alibaba.com Ltd was halted on Thursday pending an announcement regarding its parent, Chinese e-commerce giant Alibaba Group, which reportedly plans to buy back the 40 percent stake in it held by Yahoo Inc. Sources told Reuters last month that Alibaba Group, founded by former English teacher and now billionaire Jack Ma, was looking to raise a US$3 billion loan, which it would use to buy back part of the Yahoo-held stake. The sources said Alibaba aimed to put together a group of 6-7 banks by early February. Thomson Reuters' LPC service reported last week that six banks - ANZ, Credit Suisse, DBS, Deutsche Bank, HSBC and Mizuho Corporate Bank - were forming a mandated lead arranger group to back that $3 billion financing, citing market sources. Yahoo's stake in Alibaba Group could be worth up to $13 billion, based on the $1.6 billion paid for a 5 percent stake in Alibaba by Yunfeng Capital, Silver Lake and other investors in … [Read more...] about Alibaba.com shares halted; Yahoo update?