Vietnam sugar refiner Sucrerie de Bourbon Tay Ninh, owned by Group Bourbon of France, has received approval to sell 25 percent of its shares to the public. The company would sell 28 million shares, or 20 percent of its shares, in an auction and 7.46 million shares, or 5 percent, to employees and sugar cane growers, the State Securities Commission said in a statement seen on Monday.
The auction by Bourbon Tay Ninh, which has a registered capital of VND1.4 trillion (US$87 million), would be held by October 6, the statement said.
Parent company Group Bourbon said in April it had sold 24 percent of the sugar refiner's shares for €36 million ($48 million) to Vietnamese investors including dairy product maker Vinamilk , confectionery maker Bibica and investment funds including Vinacapital.
It aimed to raise €32 million ($43 million) from the share auction, suggesting a price of about €1.14 ($1.54) each, or 2.5 times their face value.
Group Bourbon has said it would retain a 51 percent stake in the company for the next three years.
The company, based in the southern province of Tay Ninh, refines sugar and generates electricity from sugarcane waste to serve its refineries.
Source: Thanh Nien
Showing posts with label SBT. Show all posts
Showing posts with label SBT. Show all posts
Tuesday, July 10, 2007
Monday, May 21, 2007
Bourbon Tay Ninh Sugar Company to sell 49% of shares
The Bourbon Tay Ninh Sugar Joint Stock Company (SBT) will auction 49% of its shares next month.
3% of the total 70 million SBT shares will be sold exclusively to local cane farmers and 2%, to SBT staff, said SBT General Director Philippe Lombard.
Under the company's equitisation plan, SBT will retain 51% of the stake or 72.8 million of the total 141.9 million shares worth 1.4 trillion VND (approximately 104 million USD).
The company has so far signed contracts to transfer 24% of its chartered capital to 17 partners, including Vinamilk, Kinh Do, Bibica and VinaCapital.
SBT was set up in 1995 as a joint venture between the Bourbon Group of France and two Vietnamese partners, with the French group representing a 70% stake of the 28.5 million USD in chartered capital and its 95 million USD investment capital.
In 1998, the company increased its chartered capital to 39.5 million USD and its investment capital to 111 million USD.
After Bourbon acquired the two partners’ stake in 2000, capital then grew to 112 million USD and 113 million USD, respectively.
In March 2007, SBT received a licence from Tay Ninh provincial authorities to become a joint-stock company.
The company specialises in making refined sugar, producing power from sugarcane waste to serve its production lines and providing sugarcane cuttings.
It hauled in over 193 billion VND (11.8 million USD) from the 2006-07 sugarcane crop.
Source: VNA
3% of the total 70 million SBT shares will be sold exclusively to local cane farmers and 2%, to SBT staff, said SBT General Director Philippe Lombard.
Under the company's equitisation plan, SBT will retain 51% of the stake or 72.8 million of the total 141.9 million shares worth 1.4 trillion VND (approximately 104 million USD).
The company has so far signed contracts to transfer 24% of its chartered capital to 17 partners, including Vinamilk, Kinh Do, Bibica and VinaCapital.
SBT was set up in 1995 as a joint venture between the Bourbon Group of France and two Vietnamese partners, with the French group representing a 70% stake of the 28.5 million USD in chartered capital and its 95 million USD investment capital.
In 1998, the company increased its chartered capital to 39.5 million USD and its investment capital to 111 million USD.
After Bourbon acquired the two partners’ stake in 2000, capital then grew to 112 million USD and 113 million USD, respectively.
In March 2007, SBT received a licence from Tay Ninh provincial authorities to become a joint-stock company.
The company specialises in making refined sugar, producing power from sugarcane waste to serve its production lines and providing sugarcane cuttings.
It hauled in over 193 billion VND (11.8 million USD) from the 2006-07 sugarcane crop.
Source: VNA
Wednesday, April 25, 2007
Sugar maker signs contracts with new partner group
The Bourbon Tay Ninh Sugar Company (SBT) on Monday signed contracts to sell shares to 17 local and foreign strategic partners in an effort to develop the company’s business.
The strategic partners hold a total of 24 per cent of the company, whose capital stands at VND1.419 trillion (US$88 million).
However, the specific percentage of ownership of each of the partners was not released.
Philippe Lombard, the company’s general director, said the co-operation would help his company grow in the field of investment and production.
The 17 companies, including Vinamilk, Kinh Do, Uni President, Dai Viet Securities Company and VinaCapital were classified into three groups of trade, finance and others.
The sugar company will implement procedures to make the IPO (initial public offering) in June at the latest and list on the stock exchange this year.
SBT was set up in 1995 as a joint venture between the Bourbon Group of France and two Vietnamese partners, with the French group representing 70 per cent of the $28.5 million in chartered capital and its investment capital $95 million.
In 1998 the company increased its chartered capital to $39.5 million and its investment capital to $111 million.
After Bourbon acquired the two partners’ stake in 2000, capital then grew to $112 million and $113 million, respectively.
In March 2007 SBT received a licence from Tay Ninh Province to turn into a joint-stock company.
The company’s activities include making refined sugar, producing power from sugarcane waste to serve its production lines, and providing sugarcane cuttings.
Last year it netted VND193 billion, up from VND121 billion in 2005.
SBT plans to invest $55 million in a thermo-power project of 70 MW capacity, and another $10 million in an ethanol producing project capable of 100,000 litres each working day.
It will also make other investments, including developing sugar farming areas.
Source: VNS
The strategic partners hold a total of 24 per cent of the company, whose capital stands at VND1.419 trillion (US$88 million).
However, the specific percentage of ownership of each of the partners was not released.
Philippe Lombard, the company’s general director, said the co-operation would help his company grow in the field of investment and production.
The 17 companies, including Vinamilk, Kinh Do, Uni President, Dai Viet Securities Company and VinaCapital were classified into three groups of trade, finance and others.
The sugar company will implement procedures to make the IPO (initial public offering) in June at the latest and list on the stock exchange this year.
SBT was set up in 1995 as a joint venture between the Bourbon Group of France and two Vietnamese partners, with the French group representing 70 per cent of the $28.5 million in chartered capital and its investment capital $95 million.
In 1998 the company increased its chartered capital to $39.5 million and its investment capital to $111 million.
After Bourbon acquired the two partners’ stake in 2000, capital then grew to $112 million and $113 million, respectively.
In March 2007 SBT received a licence from Tay Ninh Province to turn into a joint-stock company.
The company’s activities include making refined sugar, producing power from sugarcane waste to serve its production lines, and providing sugarcane cuttings.
Last year it netted VND193 billion, up from VND121 billion in 2005.
SBT plans to invest $55 million in a thermo-power project of 70 MW capacity, and another $10 million in an ethanol producing project capable of 100,000 litres each working day.
It will also make other investments, including developing sugar farming areas.
Source: VNS
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