Viconship approved the divestment of all 22% of shares it holds at Dinh Vu Petroleum Services Port Joint Stock Company ( PTSC ) at a minimum price of VND 10,000/share.
Vietnam Container Joint Stock Company (Viconship - stock code VSC) has just announced a resolution approving the divestment of all capital at Dinh Vu Petroleum Service Port Joint Stock Company (PTSC - stock code PSP). The purpose of Viconship's transaction is to reduce its ownership ratio at PTSC.
Accordingly, Viconship plans to sell more than 8.82 million shares, equivalent to 22% of PTSC's charter capital. With a minimum price of VND10,000/share, 9% lower than the current market price of PSP (VND11,000), the minimum total value that Viconship can receive is VND88.2 billion.
The transaction is expected to be carried out by order matching and negotiation between September 12 and October 10.
The move to withdraw all capital from PTSC is part of Viconship's strategy to divest from non-core areas to focus on expanding core business areas through M&A.
Previously, at the 2024 Annual General Meeting of Shareholders, Viconship approved a plan to divest from the Hyatt Place Hai Phong Hotel Project. The divestment from this project was explained by the board of directors as aiming to focus resources on the company's core businesses, helping to reduce the burden of financial costs and interest expenses.
Regarding business results, in the first 6 months of this year, Viconship achieved net revenue of VND1,304 billion, up 30.6% over the same period. Gross profit during this period was approximately VND425 billion, gross profit margin reached 32.6%.
The company reported pre-tax profit of VND203 billion and after-tax profit of VND161 billion, both double compared to the same period last year.
This year, Viconship plans to achieve revenue of VND2,450 billion, up 16.2% year-on-year. Pre-tax profit of VND320 billion, up 20.7% compared to 2023. After half a year, the company has achieved 53.2% of the revenue plan and 63.4% of the profit target.
Viconship said it will continue to ensure the maintenance of key business activities in the three regions, invest in expanding production, effectively exploit infrastructure items closely linked to the company's core business segments for development in 2024 and the following years. The company plans to start construction of a deep-water port project in Hai Phong in the 2024-2025 period, continue to research and invest in deep-water ports in Da Nang , Vung Tau along with potential logistics zones.
In addition, Viconship said that in 2024, the expected bank loan interest expense is VND184 billion due to the implementation of the investment program to receive the transfer of a controlling stake in a business in the seaport sector. The loss on investments in subsidiaries and associated companies is expected to be VND20 billion.
As of the end of June, the company had total assets of VND6,488 billion, an increase of VND1,298 billion compared to the beginning of the period. Liabilities decreased slightly compared to VND1,896 billion at the beginning of the year, down to VND1,833 billion. Owner's equity was over VND4,655 billion, and undistributed profit after tax reached VND696 billion.
Source: https://baodautu.vn/viconship-muon-thoai-toan-bo-von-tai-ptsc-dinh-vu-d224250.html
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