Lilama 3's business is going badly, Lilama's mother has to sell her child to pay off debt

June 3, 2016 12:30

According to information from the Vietnam Securities Depository (VSD), VSD has transferred ownership of 2,563,600 LM3 shares.of Lilama Joint Stock Company3 from Vietnam Machinery Installation Corporation - JSC (Lilama) to Vietnam Debt Trading Company Limited (DATC).

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Illustration photo. Source Internet

Lilama invested in Lilama 3 from the very beginning with a 51% ownership ratio equivalent to 2,626,500 shares. From 2010 to now, Lilama has twice sold capital in Lilama 3, reducing the number of shares owned to 2,563,600 units equivalent to 49% and is no longer the parent company.

In the last 3 years, Lilama 3's business situation has been quite bad with losses of tens of billions each year. By the end of 2015, Lilama 3 had negative equity of 43 billion VND and LM3 shares were also restricted from trading on UpCOM.

Currently, LM3 stock price is trading around 4,000 VND/share.

According to Cafe F

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