Vietnam Electricity shares rise to 7-month high on hotel sale

Vietnam Electricity Construction Joint-Stock Company (VNE), a power plant builder, Tuesday climbed to its highest level in seven months in Ho Chi Minh City trading after the company said it would post a gain from a hotel sale.

The share rose 4.5 percent to VND11,700 on the Ho Chi Minh Stock Exchange, the highest since October 6.

Vietnam Electricity, based in the central city of Da Nang, would sell its Green Plaza Hotel in Da Nang to Thien Thanh Production, Trading & Construction Ltd. for VND389 billion by the end of June and post a onetime gain of VND105 billion (US$5.9 million), the company said in a statement Tuesday.

thanhnien, bloomberg

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