We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aseana Properties Limited | LSE:ASPL | London | Ordinary Share | JE00B1RZDJ41 | ORD USD0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0925 | 0.075 | 0.11 | 0.095 | 0.0925 | 0.095 | 0.00 | 08:00:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 15.75M | -8.73M | -0.0546 | -1.65 | 14.79M |
TIDMASPL
RNS Number : 1498H
Aseana Properties Limited
15 August 2016
The announcement contains inside information
Aseana Properties Limited
("Aseana")
Aseana reduces stake in investee company
Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam listed on the Main Market of the London Stock Exchange, announces that on 15 August 2016 it has sold of 2,175,880 shares in Nam Long Investment Corporation ("Nam Long"), a real estate developer in Vietnam listed on the Ho Chi Minh Stock Exchange (HOSE: NLG), for total proceeds of VND47.5 billion (US$2.13 million*) and at an average price of VND21,837 (US$0.98*) per share.
Following the sale, Aseana's effective stake in Nam Long has been reduced from 5.50% to 3.96%. In line with International Financial Reporting Standards, the value of Aseana's holding is 'marked-to-market' against Nam Long's share price as quoted on HOSE at the end of each reporting period.
Nam Long is an established property development company with a track record of more than 20 years and is a leading company in the real estate market in Ho Chi Minh City, Vietnam. Nam Long's affordable housing projects, branded as "E-Homes", continue to be the main source of revenue. The high quality and low prices have made its E-Homes brand the preferred brand among prospective home buyers in Vietnam. Nam Long currently has a land bank of more than 560 hectares mainly in Ho Chi Minh City and neighbouring provinces, making it one of the largest property developers by land bank in Ho Chi Minh City.
The disposal reflects Aseana's strategy to reduce its holding in Nam Long at the appropriate time and price, in line with the Company's overall divestment strategy and its intention to make capital distributions to shareholders upon receipt of consents from its lenders.
* Based on an exchange rate of US$1.00 to VND22,302
For further information:
Aseana Properties Limited Tel: +603 6411 6388 Chan Chee Kian Email: cheekian.chan@ireka.com.my N+1 Singer Tel: 020 7496 3000 James Maxwell / Liz Yong (Corporate Finance) Sam Greatrex (Sales) Tavistock Tel: 020 7920 3150 Jeremy Carey / James Verstringhe Email: jcarey@tavistock.co.uk
Notes to Editors:
London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.
Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 49 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEELBFQVFEBBD
(END) Dow Jones Newswires
August 15, 2016 02:00 ET (06:00 GMT)
1 Year Aseana Properties Chart |
1 Month Aseana Properties Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions