Stock market briefs

22-Feb-2020 Intellasia | The SaigonTimes | 6:02 AM Print This Post

Saigon Garmex Manufacturing Trade Company (GMC) has completed the issuance of 8.9 million shares to raise its registered capital by 49.7 percent to VND268 billion. GMC sold the shares to existing shareholders at a 1-for-2 ratio at VND15,000 each, booking the proceeds of VND133.5 billion. The garment firm plans to use the proceeds to supplement its working capital. It also expects to expand its business to the European Union, Japan, and the United States, revamp the organisational structure, and invest in machinery and infrastructure development of factories to avoid rejection of textile orders due to insufficient production capacity.

HCM City Kienlong Bank will put up more than 176.4 million shares of Sacombank (STB) for sale at a starting price of VND21,600 per share. Kienlong Bank will offer the shares, which are collateral assets of some individuals, to retrieve debts. This is the second attempt by Kienlong Bank to offload Sacombank’s shares since its failure at the end of January. If the sale is successful, Kienlong Bank will collect more than VND3.8 trillion. Compared to the previous offering, Kienlong Bank has discounted the share price by 10%. STB share price is now around VND11,400 on the Hochiminh Stock Exchange.

HCM City The Ministry of Construction will divest the remaining State capital in ceramic and tile producer Viglacera Corporation (VGC) within this year, said head of the ministry’s Enterprises Management Department Dao Minh Thanh. The State capital in VGC now accounts for 38.85 percent following previous divestments. The firm is trading more than 448.3 million shares on the Hochiminh Stock Exchange.

HCM City SSI Securities Corporation (SSI) plans to issue nearly 82.89 million shares to pay dividends to shareholders at a rate of 16%, meaning each shareholder who owns 100 shares will receive 16 new shares. Capital for the issuance is sourced from the company’s retained after-tax profit as of December 31, 2018. After the issuance, SSI’s chartered capital will be raised to nearly VND6.03 trillion.

HCM City Development Investment Construction Company (DIG) said its consolidated net profit surged 70 percent year-on-year to over VND329 billion in the fourth quarter of last year, the highest profit so far. The revenue climbed 18.6 percent to VND851.6 billion in the quarter.


Category: Stocks, Vietnam

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