Vietnam Stocks: Imexpharm, Truong Thanh, Tay Nguyen Electricity

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, rose for a second day, gaining 1.9 percent to a three-week high of 391.19.

Imexpharm Pharmaceutical Joint-Stock Co. (IMP VN), a pharmaceuticals manufacturer and trader, gained for the first time since Nov. 8. The shares jumped 5 percent to 36,000 dong, the biggest gain since June 22. Imexpharm will buy back 500,000 shares from Dec. 9, it said in a statement on the bourse’s website.

Truong Thanh Furniture Corp. (TTF VN), Vietnam’s biggest listed furniture maker, rallied 3.5 percent, to 5,900 dong. The company will form a timber venture with Japan’s Oji Paper Co. to plant a forest in the southern Vietnamese province of Phu Yen, according to a statement on the exchange’s website. Truong Thanh will have a 51 percent stake in the project, the statement said.

Tay Nguyen Electricity Investment Joint-Stock Co. (TIC VN) a power company that also engages in construction of civil engineering works and production of rubber products, rose 4 percent to 7,900 dong. The company plans to buy back 200,000 shares from Dec. 12, according to a statement on the exchange’s website.