DIC CORP DIVESTED ALL CAPITAL IN SEVERAL COMPANIES VALUED OVER VND 75 BILLION

Board of Directors (BODs) of DIC CORP (Code: DIG) approved the plan to withdraw all capital from Vung Tau Sports Tourism Development Joint Stock Company (DIC Sport). Specifically, It offered nearly 1.8 million shares at the offering price of VND 13,000 per share. Estimated value is about VND 23.3 billion.

In addition to DIC Sport, DIC Corp also offered more than 3.8 million shares in Taekwang – DIC Co. Ltd, with a face value of USD 1.8 million at the time of its capital contribution, equivalent to nearly VND 41 billion.

At the same time, DIC Corp offered to sell 846,900 shares at Dai An J & D Co., Ltd with the value of USD 500,000, equivalent to VND 11.4 billion.

By the end of 2013, DIC Corp had transferred 20% of its equity capital in J & D Dai An to Jeongsan Vina Co., Ltd meaning that J & D Dai An is no longer being an associated company of DIC Corp with the remaining capital of 5%. Regarding to Taekwang - DIC, Taekwang Vina Industrial JSC is a major shareholder of DIC Corp with 10.2% stake.

According to the consolidated financial statement of Q1/2018, recently DIC Corp has invested and contributed a series of companies. In particular, DIC Corp has completely withdrawn 40.83% of its capital in the Brothers DIC Ceramic Joint Stock Company after the first three months of 2018. The most valuable investments were Phuong Nam Investment and Development JSC and Vina Dai Phuoc JSC.

Recently, Viet Capital Securities (VCSC – Stock Code: VCI) registered to buy 11 million shares of DIG from June 27^th to July 25^th 2018, and will become a major shareholder once its ownership ratio increases from 4.7% to 9.3%.

(Source: Vietnambiz)