Vietnam Stocks: Imexpharm, Truong Thanh, Tay Nguyen Electricity

Shares of the following companies had unusual (VNINDEX) moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, rose for a second day, gaining 1.9 percent to a three-week high of 391.19.

Imexpharm Pharmaceutical Joint-Stock Co. (IMP) , a pharmaceuticals manufacturer and trader, gained for the first time since Nov. 8. The shares jumped 5 percent to 36,000 dong, the biggest gain since June 22. Imexpharm will buy back 500,000 shares from Dec. 9, it said in a statement on the bourse’s website.

Truong Thanh Furniture Corp. (TTF) , Vietnam’s biggest listed furniture maker, rallied 3.5 percent, to 5,900 dong. The company will form a timber venture with Japan’s Oji Paper Co. (3861) to plant a forest in the southern Vietnamese province of Phu Yen, according to a statement on the exchange’s website. Truong Thanh will have a 51 percent stake in the project, the statement said.

Tay Nguyen Electricity Investment Joint-Stock Co. (TIC) a power company that also engages in construction of civil engineering works and production of rubber products, rose 4 percent to 7,900 dong. The company plans to buy back 200,000 shares from Dec. 12, according to a statement on the exchange’s website.

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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