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Article: VIETNAM COS BUY BACK SHARES TO STABILISE PRICES.
- Article from:
- AsiaPulse News
- Article date:
- December 18, 2007
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HANOI, Dec 18 Asia Pulse - As many Vietnamese enterprises continue to issue additional shares to feed their thirst for capital, a few companies are actually buying back shares.
Pha Lai Thermo-power Joint Stock Co (PPC) has re-purchased a million of its outstanding shares, while Hoa Binh Rubber Joint Stock Co (HRC) has bought back a more modest 75,000 shares.
PPC general director Nguyen Khac Son said that the company has accumulated retained earnings since 2006. It used to invest its capital reserves through investment funds, but as PPC share prices began dropping during the recent stock market downturn, the company's management board decided it would be ...