Oxley increases stake in Hanoi JV for $3.9 mil; acquires dormant company for HCMC projects

SINGAPORE (June 14): Oxley Holdings has increased its subsidiary Oxley MK Vietnam’s stake in the group’s Vietnam joint venture (JV) vehicle, Oxley MK Hanoi, from 20% to 29%.

This comes after acquiring some 2.88 million shares or 9% of Oxley MK Hanoi from the group’s JV partner, Tran Quoc Hieu, for VND65.96 billion ($3.88 million).

The acquisition follows Oxley MK Hanoi’s increase in charter capital to VND320 billion from VND20 billion previously, comprising 32 million shares of VND10,000 each.

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