German Bank Raises Ownership in Vietnam's Listed Firms

The Deutsche Bank AG London has purchased more stakes in two of Vietnam’s listed firms, the Song Da Urban and Industrial Zone Investment and Development Co (Sudico), and Taya Vietnam Electrical Wire and Cable Co, the stock exchange reported.

 

Deutsche Bank has raised its ownership in Sudico from 204,200 shares to 251,810 shares, accounting for 5.04 per cent of total stake in the firm, as of December 4.

 

The German bank has also bought more 38,750 shares in Taya Vietnam, bringing its total holdings in the company to 731,790 shares, or 14.35 per cent stake, as of December 4.

 

Sudico shares are traded at more than VND400,000 each, over the par value of VND10,000, becoming the most expensive stock on the Ho Chi Minh City Securities Trading Center. It is planning to split a share into four shares to boost its registered capital to VND150 billion from current VND50 billion.

 

The firm also plans to pay dividend at 15 per cent based in its current capital for the first three quarters of this year.

 

Taya Vietnam shares, meanwhile, are traded at VND52,000 each.