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Vietnam Stocks: PetroVietnam Drilling, Ocean Group, Meca Vneco

Aug. 22 (Bloomberg) -- 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.

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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