Vietnam Stocks: PetroVietnam Drilling, Ocean Group, Meca Vneco

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11 a.m. local-time close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, advanced 1.3 percent to 406.03.

PetroVietnam Drilling & Well Services Joint-Stock Co. (PVD VN) rose 3.5 percent to 38,800 dong, the steepest gain since July 22. The company plans to buy back 1 million shares, according to a statement on its website. It doesn’t give a time frame for the purchase.

Ocean Group Joint-Stock Co. (OGC VN), a real-estate and financial company, surged 4.6 percent to a two-week high of 11,300 dong. The Hanoi-based company will build and develop a housing-office complex, which would cost 600 billion dong ($28.9 million), according to a statement on its website.

Meca Vneco Investment & Electricity Construction Joint- Stock Co. (VES VN), whose businesses include electricity- facilities construction, real estate and travel services, slumped 2.6 percent to 3,700 dong. Meca’s six-month losses quadrupled to 4.95 billion dong after an audit, according to a statement from the bourse’s website.

--Nguyen Dieu Tu Uyen. Editor: Shiyin Chen

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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