Taiwan-owned firm makes Vietnam first
A Taiwanese-invested firm, Taya Vietnam Electric Wire & Cable Joint Stock Co., will be the first foreign-controlled firm to list shares on Vietnam's stock market, a statement from the exchange said yesterday.
The firm plans to list 3,653,480 shares, or 20 percent of its total shares, on the Ho Chi Minh City's Securities Trading Center February 15, it said.
Taya Vietnam, which was established in 1992 by Taiwanese investors, has a registered capital of 182 billion dong (US$11.5 million), equivalent to 18.3 million shares valued at 10,000 dong (US$0.63) each.
The company is based in Dong Nai province, and specializes in making electric wire and cable products for the Vietnamese and export markets.
So far Vietnam has allowed six foreign-invested firms to sell shares to local investors, but only Taya Vietnam has decided to list its shares on the local bourse.
By the end of 2005, Vietnam had more than 6,000 foreign-invested firms with a total registered capital of US$50 billion.
Vietnam launched its first stock market in Ho Chi Minh City in July 2000, and the market has 32 listed companies with a combined capitalization of US$468 million. Vietnam also has an over-the-counter market in Hanoi.
Nintendo big seller
Nintendo Co. said that it has sold about 10 million of its Nintendo DS handheld game systems worldwide, including about 4 million in North America and more than 5 million in Japan.
Perrin Kaplan, vice president for marketing at Nintendo's U.S. headquarters in Redmond, said Tuesday the company sold about 3 million of the handheld gaming gadgets to North American consumers in 2005. That's on top of 1.2 million sold to North American consumers in 2004, following the system's late November launch.
Rival Sony Corp. said it has sold 3.2 million of its handheld game system, the PlayStation Portable, in North America between its March launch and mid-December.
Symantec Corp. is bolstering its computer security offerings by acquiring IMlogic Inc., which helps companies secure and store instant-messaging traffic by employees.
Financial terms of Tuesday's deal were not released.
Acquiring privately held IMlogic will enable Cupertino, California-based Symantec to broaden the security and legal compliance tools it offers to customers, said Enrique Salem, senior vice president of security products and solutions. This comes on the heels of Symantec's US$11 billion acquisition last year of Veritas Software Corp.
Thai Beverage Plc, which dominates Thailand's beer and whiskey market, plans to float its shares on the Singapore Stock Exchange, after Thai regulators shelved its local listing, an official said yesterday.
Even after listing in Singapore, Thai Beverage still wants to float its shares on the Stock Exchange of Thailand, where its proposed listing has drawn vocal protests from social conservatives who say it could lead to increased drinking.
"We will seek a dual listing in Thailand and Singapore," Thai Beverage's vice president Kasemsant Weerakun, told AFP.
The company's board is due to meet this week to take a final decision, he said. The company's board is due to meet this week to take a final decision, he said.
The Singapore Exchange welcomed news of the plans by Thai Beverage, which produces the country's best-selling Chang Beer and Sang Som whiskey.
"This is in line with our listing strategy to encourage larger issuers to come to Singapore," the SGX said in a statement.