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Hapro (HTM) sells Chu Dau shares to BRG Group
Ha Noi Trade Corporation (Hapro) is planning to transfer 420,000 shares in Chu Dau Ceramic JSC to BRG Group JSC.
Chu Dau JSC is one of ten affiliates of Hapro. As of 2018, Hapro owned 51 per cent of Chu Dau JSC. After the transfer, the corporation will hold 30 per cent.
The shares, equivalent to 21 per cent of the company, will be sold for VND13,500 each, or VND5.67 billion (US$243,800) of the total. The transfer will be conducted within three months.
Chu Dau pottery dates back to the 13th-14th centuries, and flourished in the 15th-16th centuries. In the seventeenth century, Chu Dau pottery was lost due to a feudal war between the Trinh and Mac.
In 2001, Hapro decided to establish Chu Dau Ceramic Enterprise, which is now Chu Dau Ceramic JSC, with a charter capital of VND20 billion to restore this Vietnamese ceramic line.
Hapro is a member of BRG Group. BRG acquired Hapro through Motor N.A Vietnam Co., Ltd. with 65 per cent of charter capital. Two other major shareholders include An Phu Trading and Investment and Import Export Company Limited (17.7 per cent) and Thanh Cong Automotive Trading Company Limited (15.31 per cent).
Nguyen Thi Nga, chairman of BRG Group, is also currently the chairman of Hapro. BRG Group has invested in many high-end hotel, golf and real estate projects.
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