Vietnam: Nawaplastic up stake to 53% in BMP; Phuong Nam cuts holding in CGV

CGV Vietnam (Photo: Internet Archive)

Thailand’s Nawaplastic has increased its stake to nearly 53 per cent in Binh Minh Plastic JSC while Phuong Nam JSC has pared stake in Vietnam’s largest cinema operator CGV to 7.5 per cent.

Thailand’s Nawaplastic increases stake to nearly 53% at BMP

The Nawaplastic Industries (Saraburi), a subsidiary of Thailand’s Siam Cement Group (SCG), has purchased an additional 1.7 million shares in Vietnamese plastic producer Binh Minh Plastic JSC (BMP), lifting its ownership to 52.96 per cent, according to Ho Chi Minh City Stock Exchange (HoSE).

Through this transaction, which was done on June 12, Nawaplastic now holds nearly 53 per cent stake, from 51.1 per cent earlier.

The SCG’s subsidiary earlier purchased an additional 29.51 per cent stake in Vietnamese plastic producer Binh Minh Plastic JSC (BMP), lifting its ownership to nearly 50 per cent after Vietnam’s sovereign wealth fund State Capital Investment Corporation (SCIC) had announced plan to offload its 29.51 per cent stake in BMP on March 9, kicking off a much-delayed divestment exercise.

Phuong Nam JSC pares stake at Vietnam’s largest cinema operator CGV

Vietnam-based media company Phuong Nam Cultural JSC has proposed to sell its stake in CJ’s CGV Vietnam, which operates the country’s largest multiplex cinema, CGV.

The company plans to sell 12.5 per cent stake in CGV Vietnam to real estate developer Black Diamond Investment JSC.

After the transaction which is scheduled for July 5, the ownership of Phuong Nam in the cinema operator will reduce from 20 per cent to 7.5 per cent.

CVG Vietnam is a unit of CJ CGV, the largest cinema operator by screens in South Korea.

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