HBC: Hoa Binh Corp. transfers shares in HBI
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On April 21, 2011, Hoa Binh Construction & Real Estate Corporation (HOSE: HBC) signed a transfer contract to transfer Long Hau Corporation 3,886,000 common shares of Hoa Binh Infrastructure Investment and Construction JSC (HBI). Total value of the contract is VND46,632,000,000, equivalent to VND12,000/share.
HBI is a joint stock company, established by three foundation shareholders HBC, PVFC and BSC, and directly invests in Hoa Binh Industrial Group Project in Nhi Thanh commune, Thu Thua district, Long An province. Partners of the project contributed enough charter capital (VND114 billion), including: HBC contributed 80.78%, equivalent to VND92.09 billion. Procedures of share transfer are expected to be completed by May 2011.