Wednesday, November 20, 2019 6:19:22 AM - Markets open
VN-INDEX 1,008.35 +5.44/+0.54%
HNX-INDEX 105.49 +0.34/+0.32%
UPCOM-INDEX 57.02 +0.10/+0.18%
BSR changes to joint stock model
http://vietnamnews.vn/ - 7/10/2018 9:44:23 AM
 (0 ratings. You must sign in to rate.)
Bình Sơn Refining and Petrochemical Company Limited (BSR) in the central province of Quảng Ngãi has officially been operating as a joint stock company since July 1, 2018.
 
This change follows the directive of Prime Minister Nguyễn Xuân Phúc in accelerating the equitisation process of State-owned enterprises (SOE) during the 2016-20 period. 
 
Through the transforming into a joint stock company, BSR hopes to seek foreign strategic investors to help the company develop petrochemicals business, as well as increase its product quality and competitiveness.
 
The company’s legal representative is Trần Ngọc Nguyên, the general director of the firm.
 
Bình Sơn Refining and Petrochemical Joint Stock Company is responsible for receiving, managing and operating Dung Quất Oil Refinery Plant. After nine years of operation, Dung Quất Oil Refinery has generated about US$38 billion in revenue and contributed nearly $7 billion to the State budget.
 
In the first six months of 2018, BSR produced 3.56 million tonnes of products, consuming nearly 3.6 million tonnes of finished products, fulfilling 57 per cent of the yearly plan. The firm’s revenue and after-tax profits are estimated at nearly VNĐ55.36 trillion ($2.4 billion) and VNĐ2.95 trillion, equivalent to 69.7 per cent and 84.7 per cent of the plan set for the whole of 2018, respectively.
 
The company also contributed approximately VNĐ5.81 trillion to the State budget in the first half of 2018.
 
On December 8, 2017, the Prime Minister signed the Decision No 1978 / QĐ-TTg approving the equitisation plan of BSR. 
 
On January 17, 2018, BSR successfully held the first public auction of shares at the HCM City Stock Exchange (HOSE), with a total of 241,556,969 shares (equivalent to 7.79 per cent of BSR), earning the State budget about VNĐ5.5 trillion. The average price was VNĐ23,043 per share. It marked Việt Nam’s largest IPO this year, valuing the company at $2 billion. — VNS
 
Read original article here
Newer News
19/11 LGL: LGL to complete the purchase of shares of Rivera Ha Noi
19/11 KDC: BOD resolution on the cash dividend for 2018
19/11 CLG: Record date for EGM 2019
19/11 GMC: Notice of Public Offering
19/11 SCR: Notice of stock issuance for the dividend payment
19/11 HBC: Notice of stock issuance for the ESOP
19/11 E1VFVN30: Announcement of the change of listing
19/11 TAC: BOD resolution on signing the credit limit with banks
19/11 GMC: BOD resolution on the record date for implementing rights
19/11 TTB: Explanation for plummeting to floor prices
Older News
06/07 VNM: Vinamilk’s products present in 43 countries
03/07 Masan Consumer inks strategic partnership with South Korean meat producer
02/07 Vietcombank’s pre-tax profit up 52 percent in six months
02/07 HPG: Hoa Phat Dung Quat Steel JSC improves administration capacity
28/06 VCB: Vietcombank to apply Basel II next month
28/06 Banks optimistic about growth rate this year
28/06 NLG: Nam Long kicks off Waterpoint township in Long An province
28/06 Traphaco and Cadivi fined for tax arrears
27/06 YEG: Entertainment company Yeah1 lists 27 mln shares on HOSE
27/06 Bamboo Airways buys 20 Boeing 787-9 Dreamliner aircraft
 
Newsletter Signup
Top Stories
VN30 firms take 92% of all top listed firms’ total Q3 profits
Reference exchange rate unchanged on November 13
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Prices of Grade A office space rise due to low supply
Market Update
Last updated at 3:30:12 PM
VN-INDEX 1,008.35 +5.44/+0.54%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.