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VietNamNews

SCIC to buy one million FPT shares

Update: May, 17/2014 - 08:58

HA NOI (VNS)— The SCIC Investment Company Limited announced on Tuesday that it would buy one million shares of the information technology firm FPT between May 19 and June 17.

The company is an affiliate of the State Capital Investment Corporation (SCIC), and if the transaction is successful, it will hold 0.36 per cent of all FPT shares in circulation.

SCIC holds nearly 20.8 million FPT shares, or 6.05 per cent of the firm's total equity. It will divest from FPT by 2015, following a restructuring programme adopted by the Government late last year.

FPT share prices have fallen by about 30 per cent since the beginning of April, down from about VND54,000, or US$2.57, to VND41,500, or $1.98, per share on the HCM City Stock Exchange. Liquidity was significant with around a million shares changing hands per day.

SCIC Investment chairman Le Song Lai is the SCIC deputy general director and a member of the FPT management board.— VNS


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