United Overseas Australia (ASX:UOS) has met all the conditions for its unit, UOA Vietnam, to acquire all the shares of Vietnam-based VIAS Hong Ngoc Bao Joint Stock Company for AU$103.7 million, according to a Friday filing with the Singapore Exchange.
The company has now acquired a title to a parcel of land in Ho Chi Minh City of more than 2,000 square meters, for which construction is expected to be completed in the second quarter of fiscal 2028, with an investment of AU$182.3 million, the filing said.
Shares of the company rose 1% in recent Friday trade.
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