Vietnamese conglomerate eyes $70m from secondary London floatVietnam’s Stocks: Binh Duong Mineral, PV Trans, Phuc Tien Trade - Bloomberg

Hoang Anh Gia Lai has hired Indian investment bank Elara Capital to help the Vietnamese conglomerate raise as much as $70m (€50.9m) via a sale of global depositary receipts in London, a memo reveals.
The secondary listing of 19 million new shares at Vnd72,000 each, if successful, would make HAGL the first major Vietnamese firm to sell shares abroad.

Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 0.1 percent to 426.19 at the 11 a.m. local time close.

Binh Duong Mineral and Construction Joint-Stock Co. (KSB VN), a mining and building company that also produces construction materials and mineral water, advanced 4.7 percent to 55,500 dong, the biggest gain since July 15. The company, based in the southern province of Binh Duong, said 10-month net profit reached 108 billion dong ($5.5 million), or 112.2 percent of its target, according to a statement on the exchange’s website.

Construction Joint-Stock Co. No. 5 (SC5 VN), the Ho Chi Minh City-based builder known as SC5, fell 4.7 percent to 30,300 dong. Nguyen Thi Hanh Lien, one of the company’s major shareholders, plans to cut her stake to 4.98 percent from 5.68 percent from Nov. 23 to Nov. 30, according to a filing with the bourse.

PetroVietnam Transportation Corp. (PVT VN), or PV Trans, retreated 1.1 percent to 9,200 dong. The Ho Chi Minh City-based company reported a loss of 44.8 billion dong in the third quarter, compared with a profit of 14.3 billion dong in the same period last year, according to a company filing to the exchange. Its nine-month loss was 3.5 billion dong, it said in the statement on the bourse’s website.

Phuc Tien Trade & Manufacturing Joint-Stock Co. (PHT VN), which makes construction equipment, metal roofing and other steel products, dropped for the first time in four days, sliding 4.3 percent to 11,100 dong. Net income fell 17 percent to 5.3 billion dong in the first nine months, the company said in a statement to the bourse.

--Diep Ngoc Pham, Nguyen Dieu Tu Uyen. Editor: Shiyin Chen

To contact the Bloomberg News staff on this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net;